Question
Download Solution PDFAtal Pension Yojana (APY), a pension scheme for citizens of India, is focused on the _____ sector workers.
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is unorganised.
Key Points
- Atal Pension Yojana (APY)
- It was launched in 2015 and is a pension scheme for citizens of India who belong to the unorganized sector.
- The scheme is the guaranteed pension scheme of the Government of India administered by PFRDA.
- The scheme allows any citizen of India between the age group of 18-40 years to join through the bank or post office branches where one has a savings bank account.
- Under the scheme, a subscriber would receive a minimum guaranteed pension of Rs 1000 to Rs 5000 per month from the age of 60 years, depending upon his contribution.
- The same pension would be paid to the spouse of the subscriber after the demise of the subscriber and on the demise of both the subscriber and spouse, the pension wealth as accumulated till age 60 of the subscriber would be returned back to the nominee.
Last updated on Jun 17, 2025
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