2016 · Q20
Consider the following statements in respect of Atal Pension Yojana:
- 1Beneficiary must be in the age group of 18 to 40 years.
- 2Beneficiary will receive the pension only after he attains the age of 60 years.
- 3After the death of a beneficiary, his spouse continues to receive the pension.
- 4No nominee of the beneficiary is permitted.
Which of the above statements are correct?
Social Security in IndiaUnorganised sector schemes
- A3 and 4 only
- B1, 3 and 4 only
- C1, 2 and 3 only
- D1, 2, 3 and 4
Explanation
APY is open to citizens aged 18–40 (1 is correct) and pays the guaranteed pension of ₹1,000–₹5,000 per month only from age 60 (2 is correct). On the subscriber’s death the spouse continues to receive the same pension (3 is correct), and after both, the accumulated corpus goes to the nominee — so statement 4 (“no nominee permitted”) is false. Hence 1, 2 and 3 — option (C).