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    Question

    Which pension fund scheme is open to all citizens of India and provides a defined contribution to the account?

    A National Pension Scheme (NPS) Correct Answer Incorrect Answer
    B Atal Pension Yojana (APY) Correct Answer Incorrect Answer
    C Public Provident Fund (PPF) Correct Answer Incorrect Answer
    D Employees' Provident Fund (EPF) Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    The National Pension Scheme (NPS) is a pension fund scheme that is open to all citizens of India. It is a defined contribution scheme in which an individual contributes towards their retirement savings, which are invested in market-linked instruments. The scheme is regulated by the Pension Fund Regulatory and Development Authority (PFRDA) and offers both Tier I and Tier II accounts.  

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