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. Some amount of pension is guaranteed for the spouse for life after the subscriber’s death. Select the correct answer using the code given below:

QUESTION

Medium

Social Issues & Schemes

Prelims 2016

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
Some amount of pension is guaranteed for the spouse for life after the subscriber’s death.

Select the correct answer using the code given below:

Select an option to attempt

Explanation

Statement 1 is Correct: Atal Pension Yojana is a minimum guaranteed pension scheme primarily targeted at unorganized sector workers in India. It encourages saving for retirement through regular contributions during their working years.

Statement 2 is Incorrect: There is no restriction on the number of family members who can join the Atal Pension Yojana scheme. As long as they meet the eligibility criteria (age 18-40 and savings bank account), multiple members within a family can enroll.

Statement 3 is Correct: Atal Pension Yojana provides a pension benefit for the spouse after the subscriber's death. The spouse becomes the nominee and receives a pension, though the specific amount might differ depending on the chosen pension plan by the subscriber.

Hence, option C is the correct answer.

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