Consider the following statements: The 'Atal Pension Yojana' focuses o

Consider the following statements:
The ‘Atal Pension Yojana’ focuses on providing pension benefits to

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1. farmers
2. Government employees
3. industrial workers
4. unorganized sector workers

Which of the above statements is/are correct?

4 only

1, 3 and 4

1 and 4 only

Answer is Right!

Answer is Wrong!

This question was previously asked in

UPSC Combined Section Officer – 2019-20

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The Atal Pension Yojana (APY) is a government-backed pension scheme primarily aimed at encouraging saving for retirement among workers in the *unorganized sector*. It provides a guaranteed minimum monthly pension ranging from ₹1,000 to ₹5,000 based on contributions and age of joining. While individuals from other categories (like farmers or industrial workers) who are part of the unorganized sector can join, the scheme’s specific target group is defined as the unorganized sector. Therefore, statement 4 is the most accurate description of the target beneficiaries.

– APY is designed for individuals in the unorganized sector.
– It offers a guaranteed pension amount after retirement (age 60).
– Government provides co-contribution for eligible subscribers.

The scheme was launched in 2015 and replaced the Swavalamban Yojana. Subscribers must be Indian citizens between 18 and 40 years of age and must not be income tax payers.

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