Regarding ‘Atal Pension Yojana’, which of the following statements is/are correct? 1. It is a minimum guaranteed pension scheme mainly targeted at unorganized sector workers. 2. Only one member of a family can join the scheme. 3. Same amount of pension is guaranteed for spouse for lifetime after the subscriber’s death. Select the correct answer using the codes given below:

Question

Regarding &lsquo;Atal Pension Yojana&rsquo;, which of the following statements is/are correct? 1. It is a minimum guaranteed pension scheme mainly targeted at unorganized sector workers. 2. Only one member of a family can join the scheme. 3. Same amount of pension is guaranteed for spouse for lifetime after the subscriber&rsquo;s death. Select the correct answer using the codes given below:

CollectorBabu · Accepted Answer

Correct Answer: 1 and 3 only. ● Atal Pension Yojana (APY) is a pension scheme for unorganised sector workers, such as personal maids, drivers, gardeners, etc.  ● APY aims to help these workers save money for their old age while they are working and guarantees returns post retirement. ● Any Indian citizen, between 18 and 40 years of age, having a valid bank account can opt for the scheme. ● The government has amended Atal Pension Yojana (APY) to give an option to the spouse to continue to contribute for balance period on premature death of the subscriber.

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