Civil Services Prep

Prelims 2016 · Economy · Question 1

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

  1. 1 only
  2. 2 and 3 only
  3. 1 and 3 only
  4. 1, 2 and 3

Answer

1 and 3 only

1. Correct. Atal Pension Yojana is a minimum guaranteed pension scheme aimed primarily at workers in the unorganized sector.

2. Incorrect. There is no rule that only one member of a family can join; any eligible individual meeting age/bank account conditions can subscribe separately.

3. Correct. Under APY, after the subscriber’s death, the same guaranteed pension is paid to the spouse for life; after both die, the pension corpus is returned to the nominee.

Hence, statements 1 and 3 only are correct.

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