📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

    âš¡ Month End Offer - Flat 52% Off On All Courses! Enroll Now âš¡
    00:00:00 AM Left

    Question

    The subscribers of the erstwhile Swavalamban pension

    scheme who are in the age group of 18-40 years were given option to migrate to ___________
    A National Pension Scheme Correct Answer Incorrect Answer
    B Atal Pension Yojana Correct Answer Incorrect Answer
    C Pradhan Mantri Vaya Vandana Yojana Correct Answer Incorrect Answer
    D Senior Citizen Saving Scheme Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    Fresh registration under Swavalamban Scheme has been discontinued w.e.f April 1, 2015. The subscribers of Swavalamban/ NPS Lite who are in the age group of 18-40 years have been given option to migrate to new Atal Pension Yojana launched by the Govt. of India in May 2015 which provide minimum guaranteed pension and is focused towards the poor and the under-privileged citizen of India. NPS Lite/ Swavalamban subscribers who are above 40 years of age and thus cannot migrate to APY can continue in the Swavalamban scheme till they attain the age of 60 years. If they wish, they can also exit from the scheme.

    Practice Next
    More Alternate Sources of Finance Questions

    Relevant for Exams:

    ask-question