Regarding lsquo Atal Pension Yojana rsquo which of the following statements is are correct 1 I...........

Economic Affairs Pension and Insurance

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

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.

Select the correct answer using the code given below.

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UPSC CSP Previous Year Paper (2016)

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1 only

2 and 3 only

1 and 3 only

1, 2 and 3

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Explanation:

Atal Pension Yojana is a pension scheme for workers in unorganized sector it aims to address longevity risks this section of society and also encourages voluntary saving for their retirement. It provide fixed pension for the subscribers ranging between Rs. 1000 to Rs. 5000, if he joins and contributes between the age of 18 years and 40 years.

It is open to all bank account holders who are not members of any statutory social security scheme. So, 2 is wrong.

The spouse of the subscriber is entitled to receive the same pension amount as that of the subscriber until the death of the spouse.