Atal Pension Yojana
Question
Regarding 'Atal Pension Yojana', which of the following statements is/are correct?
Select the correct answer using the code given below.
- 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 the spouse for life after subscriber's death
Options
1 only
2 and 3 only
1 and 3 only
1, 2 and 3
Explanation
Atal Pension Yojana (APY) was launched in May 2015 to provide old-age social security for unorganized sector workers. Statement 1 is correct—it is a minimum guaranteed pension scheme targeting the unorganized sector. Statement 3 is correct—upon the subscriber's death, the same pension amount is provided to the spouse for life. Statement 2 is incorrect—multiple members of the same family can join APY; there is no restriction limiting one member per family. Multiple family members can each contribute and receive individual pensions under the scheme. > APY offers guaranteed pensions to unorganized workers and spousal benefits; multiple family members can enroll. Answer: (c).
Question details
Year
2016
Paper
GS Paper 1
Question
Q76
Subject
Economy
Sub-topic
Government pension and social security schemes
Type
Statement-based
Difficulty
Medium
Nature
Static
Source hint
Government schemes 2015
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