New Click here to Enroll for SIDBI MSME Expert Class by ex-GM, SBI on Nov 24

    Register

    Question

    Which of the following statements is true about the Atal Pension Yojana (APY)?

    A It is a voluntary defined contribution pension scheme for the unorganized sector workers Correct Answer Incorrect Answer
    B It is mandatory for all the salaried employees in India Correct Answer Incorrect Answer
    C It is a pension scheme for the farmers in India Correct Answer Incorrect Answer
    D It is a scheme for the government employees in India Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    The Atal Pension Yojana (APY) is a voluntary defined contribution pension scheme for the unorganized sector workers. It was launched by the Government of India in 2015 to provide a pension to the workers in the unorganized sector. The scheme is open to all citizens of India between the age of 18 to 40 years. The contribution amount is based on the age of the subscriber and the pension amount he or she wants to receive after retirement. The scheme provides a fixed pension to the subscriber after the age of 60 years until his or her death. Therefore, option A is correct.

    Practice Next