The Government of India has introduced a new pension plan under the PM Vishwakarma Yojana to provide financial security for traditional artisans and craftsmen. This scheme ensures a guaranteed monthly pension of ₹3,000 after the age of 60. It targets workers in the informal sector, offering them a stable source of income in their old age.
What is the PM Vishwakarma Pension Scheme?
The PM Vishwakarma Pension Scheme is a welfare scheme launched by the central government. Its main aim is to provide old-age financial support to workers involved in traditional trades such as carpentry, blacksmithing, pottery, and more. The scheme is managed under the Ministry of Micro, Small and Medium Enterprises (MSME) and is designed for workers in 18 different traditional professions.
Key Features of the Scheme
Monthly pension of ₹3,000 after turning 60
Contributions from both the government and the worker
Covers 18 traditional occupations
Online application and biometric verification
Managed by the MSME Ministry
Who Can Apply? – Eligibility Criteria
To apply for the scheme and receive pension benefits, applicants must meet the following conditions:
Must be an Indian citizen
Age must be between 18 to 40 years at the time of registration
Should belong to one of the 18 eligible traditional trades
Must not be a taxpayer
Must have a Jan Dhan or bank account
Aadhaar must be linked with the mobile number
List of Eligible Traditional Professions
Here are some of the professions covered under this scheme:
Carpenter – Wood and furniture work
Blacksmith – Tool and metalwork
Goldsmith – Jewellery making
Potter – Clay and earthenware items
Cobbler – Footwear repair and making
Barber – Hair cutting and grooming
Tailor – Stitching services
Washerman (Dhobi) – Laundry and ironing
Contribution and Pension Structure
The pension is based on a shared contribution model. Both the worker and the government deposit the same amount monthly, depending on the age of the applicant:
| Age at Entry | Monthly Contribution (Worker) | Govt Contribution | Pension at 60 |
|---|---|---|---|
| 18 years | ₹55 | ₹55 | ₹3,000/month |
| 25 years | ₹100 | ₹100 | ₹3,000/month |
| 40 years | ₹289 | ₹289 | ₹3,000/month |
The contribution is auto-debited from the beneficiary’s bank account every month.
How to Apply for the Scheme?
Here is the step-by-step process to register:
Visit the official Vishwakarma Yojana portal
Register using your Aadhaar-linked mobile number
Fill in your personal, bank, and professional details
Upload the required documents
Visit the nearest Common Service Centre (CSC) for biometric authentication
Once verified, monthly contributions will begin
Required Documents for Registration
Aadhaar card (linked with mobile)
Bank passbook or account information
Birth certificate or age proof
Caste certificate (if applicable)
Proof of profession (like a letter from Panchayat or local authority)
Passport-sized photograph
Major Benefits of PM Vishwakarma Pension Scheme
Guaranteed pension of ₹3,000/month
No tax on pension amount
Financial stability for traditional workers
Reduction in old-age dependence
Easy application with biometric verification
Direct bank transfer of pension
How This Scheme Compares to Other Pensions
| Scheme Name | Pension Amount | Entry Age | Govt Contribution | Target Group |
|---|---|---|---|---|
| PM Vishwakarma Yojana | ₹3,000/month | 18–40 yrs | Yes | Traditional Artisans |
| Atal Pension Yojana (APY) | ₹1,000–₹5,000 | 18–40 yrs | Yes | All citizens |
| National Pension Scheme | Market-linked | 18–65 yrs | Partial | Salaried/Private |
| Indira Gandhi Old Age Plan | ₹200–₹500 | 60+ yrs | No | BPL Elderly Citizens |
Why You Should Apply Early
Early entry means lower monthly contributions
Government may limit enrollment based on budget
Informal workers usually lack EPFO or retirement plans
Offers long-term financial security after retirement
FAQs
Q1: Can women apply for this scheme?
Yes, both men and women involved in traditional trades are eligible.
Q2: Can I exit the scheme before 60?
Yes, but refunds will depend on how long you’ve contributed.
Q3: Is medical coverage included?
No, this scheme is only for pensions. However, you can apply separately for Ayushman Bharat.
Q4: How is the pension paid?
It is directly credited to the beneficiary’s bank account every month after age 60.
Conclusion
The PM Vishwakarma Pension Scheme is a golden opportunity for traditional workers to secure their future. With minimal monthly contributions and guaranteed benefits, this scheme promotes social security and financial independence for India’s backbone workforce. Eligible artisans and craftsmen should enroll as early as possible to make the most of this valuable scheme.