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.
- A. 1 only
- B. 2 and 3 only
- C. 1 and 3 only
- D. 1, 2 and 3
Answer: C
Explanation
Statements 1 and 3 are correct: To address the longevity risks among the workers in unorganised sector and to encourage the workers in unorganised sector to voluntarily save for their retirement, APY was launched. Statement 2 is not correct: Atal Pension Yojana (APY) is open to all bank account holders who are not members of any statutory social security scheme. It doesn’t bar the number of family members from a family.