Indian Economy

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.

  1. 1 only
  2. 2 and 3 only
  3. 1 and 3 only
  4. 1, 2 and 3

Answer

Atal Pension Yojana is a government-backed pension scheme targeted at the unorganized sector. In Atal Pension Yojana, for every contribution made to the pension fund, The Central Government would also co-contribute 50% of the total contribution or Rs. 1,000 per annum, whichever is lower, to each eligible subscriber account, for a period of 5 years. 

The correct option is C.