Swavalamban Pension Yojana (also known as NPS Swavalamban) was launched by the UPA Government in 2010. Subscribers could contribute Rs 1,000 per month which would be matched by Rs 1,000 per month from the Central Government. The minimum annual contribution by a subscriber was Rs 1,000 and the maximum annual contribution was Rs 12,000. It is administered by the Pension Fund Regulation and Development Authority (PFRDA). However enrollment in the scheme was halted in 2016 and it has been replaced by Atal Pension Yojana (APY).
Eligibility
This scheme was open to all citizens of India between the ages of 18 and 60.
Swavalamban Pension was only available to people who were not :
1) Beneficiaries of any other statutory pension or provident fund scheme such as the Employees’ Provident Fund (EPF)
2) Employees of the Central Government, State Government or Autonomous Bodies
Current Status of Swavalamban Pension Yojana
In 2015, this scheme was replaced by Atal Pension Yojana (APY) and further enrollment in this scheme was halted. Existing subscribers are also being migrated to APY by the PFRDA. Subscribers in the unorganised sector can now contribute to the APY. Government co-contribution is available for persons below the income tax threshold who are not beneficiaries of any other social security scheme.