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    Question

    Which of the following statements is incorrect regarding

    India's pension sector reforms?
    A The National Pension System (NPS) was introduced to provide retirement income to all Indian citizens. Correct Answer Incorrect Answer
    B PFRDA (Pension Fund Regulatory and Development Authority) regulates the pension sector in India. Correct Answer Incorrect Answer
    C Atal Pension Yojana (APY) is designed to provide pension benefits to individuals above the age of 60 with a minimum contribution period of 20 years. Correct Answer Incorrect Answer
    D Employees’ Provident Fund (EPF) is regulated by SEBI. Correct Answer Incorrect Answer
    E The pension sector reforms aim to enhance financial inclusion in retirement planning. Correct Answer Incorrect Answer

    Solution

    Explanation:  

    • EPF is regulated by the Employees' Provident Fund Organisation (EPFO) under the Ministry of Labour & Employment, not SEBI.  
    • NPS and APY are key government-backed pension schemes, with APY designed for workers in the unorganized sector.  

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