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.
- A1 only
- B2 and 3 only
- C1 and 3 onlyCorrect
- D1, 2 and 3
Explanation
Let's analyze each statement regarding the Atal Pension Yojana (APY):
-
It is a minimum guaranteed pension scheme mainly targeted at unorganized sector workers. This statement is correct. APY aims to provide social security to workers in the unorganized sector by guaranteeing a minimum pension from Rs. 1,000 to Rs. 5,000 per month after the age of 60, depending on the contributions.
-
Only one member of a family can join the scheme. This statement is incorrect. Both husband and wife, if eligible, can join the Atal Pension Yojana individually and receive their own separate pensions. There is no restriction to only one member per family.
-
Same amount of pension is guaranteed for the spouse for life after subscriber's death. This statement is correct. Upon the death of the subscriber, the spouse is entitled to receive the same pension amount until their death. After the death of both the subscriber and spouse, the accumulated pension corpus is returned to the nominee.
Based on this analysis, statements 1 and 3 are correct.

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