Which one of the following statements is not correct for Atal Pension Yojana ........

Social Security Pension and Insurance

Which one of the following statements is not correct for Atal Pension Yojana?

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EPFO AO EO 2017

There is guaranteed minimum monthly pension for the subscribers ranging between Rs. 1,000 and Rs. 5,000 per month.

The benefit of minimum pension would be guaranteed by the Government of India.

Government of India co-contributes 50% of the subscriber's contri-bution or Rs. 1,000 per annum, whichever is lower.

It is applicable to all citizens of India aged above 40 years.

- Atal Pension Yojana (APY) is a government-backed pension scheme targeting the unorganized sector.

- Option 1: Offers a guaranteed pension between Rs. 1,000 and Rs. 5,000, which is correct.

- Option 2: The minimum pension is guaranteed by the Government of India, accurately described.

- Option 3: Government co-contribution of 50% or Rs. 1,000 per annum, whichever is lower, is true.

- Option 4: Incorrect. APY is aimed at Indians aged 18 to 40 years, not above 40; subscribers must contribute until 60 years of age.

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