Regarding ‘Atal Pension Yojana’, which of the following statements is/

Regarding ‘Atal Pension Yojana’, which of the following statements is/are correct?

  • It is a minimum guaranteed pension scheme mainly targeted at unorganized sector workers.
  • Only one member of a family can join the scheme.
  • Same amount of pension is guaranteed for the spouse for life after subscriber’s death.

Select the correct answer using the code given below.

1 only
2 and 3 only
1 and 3 only
1, 2 and 3
This question was previously asked in
UPSC IAS – 2016
Statement 1 is correct. Atal Pension Yojana (APY) is indeed a minimum guaranteed pension scheme primarily targeted at workers in the unorganized sector, providing them with social security benefits. Statement 2 is incorrect. APY allows both husband and wife to join the scheme individually, provided they meet the eligibility criteria (age between 18 and 40, not covered by any statutory social security scheme). Statement 3 is correct. Upon the subscriber’s death, the spouse is entitled to receive the same guaranteed pension amount for life. After the death of both the subscriber and the spouse, the nominee receives the accumulated pension wealth. Therefore, statements 1 and 3 are correct.
Atal Pension Yojana (APY) is a social security scheme offering a guaranteed minimum monthly pension from age 60, depending on contributions and the chosen pension amount.
The scheme is administered by the Pension Fund Regulatory and Development Authority (PFRDA) under the overall administrative and institutional architecture of the National Pension System (NPS). The government also co-contributes a certain amount for eligible subscribers for a limited period.
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