Which of the following statements is/are correct regarding changes to Atal Pension Yojana Scheme (APY) done in 2022?
A. According to the new criteria, any citizen who is or has been an income-tax payer, shall not be eligible to join APY after 1 October 2022.
B. Subscribers would receive the guaranteed minimum monthly pension of ₹1,000 or ₹2,000 or ₹3,000 or ₹4,000 or ₹5,000 at the age of 80 years.
C. As per the new rules, subscribers can make contributions to APY on a monthly basis only.
5Q:
Which of the following statements is/are correct regarding changes to Atal Pension Yojana Scheme (APY) done in 2022?
A. According to the new criteria, any citizen who is or has been an income-tax payer, shall not be eligible to join APY after 1 October 2022.
B. Subscribers would receive the guaranteed minimum monthly pension of ₹1,000 or ₹2,000 or ₹3,000 or ₹4,000 or ₹5,000 at the age of 80 years.
C. As per the new rules, subscribers can make contributions to APY on a monthly basis only.
- 1B and C onlyfalse
- 2A, B and Cfalse
- 3A and C onlyfalse
- 4A onlytrue
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Answer : 4. "A only"
Explanation :
1. Atal Pension Yojana (APY), is a pension scheme for citizens of India focused on unorganized sector workers.
2. Under APY, a minimum pension of Rs 1,000/- or 2,000/- or 3000/- or 4000 or 5000/- per month at the age of 60 years will be guaranteed depending on the contribution by the subscribers.
3. Any citizen of India can join the APY scheme.
4. It has the following eligibility criteria-
- Customer's age should be between 18 to 40 years
- He should have a savings bank account in a post office/savings bank