2017 · Q89
Which one of the following statements is not correct for Atal Pension Yojana?
Social Security in IndiaUnorganised sector schemes
- AThere is guaranteed minimum monthly pension for the subscribers ranging between Rs. 1,000 and Rs. 5,000 per month.
- BThe benefit of minimum pension would be guaranteed by the Government of India.
- CGovernment of India co-contributes 50% of the subscriber's contribution or Rs. 1,000 per annum, whichever is lower.
- DIt is applicable to all citizens of India aged above 40 years.
Explanation
The Atal Pension Yojana is open to citizens aged 18 to 40, not to those above 40, so D is the incorrect statement. The scheme does guarantee a minimum monthly pension of Rs. 1,000 to Rs. 5,000 backed by the Government of India, with government co-contribution of 50% of the subscriber's contribution or Rs. 1,000 per annum, whichever is lower, for eligible early joiners. Hence D.