Question

Which of the following statements is incorrect regarding India's pension sector reforms?

Q: Answer-Which of the following statements is incorrect regarding India's pension sector reforms?

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.

A The National Pension System (NPS) was introduced to provide retirement income to all Indian citizens.

B PFRDA (Pension Fund Regulatory and Development Authority) regulates the pension sector in India.

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.

D Employees’ Provident Fund (EPF) is regulated by SEBI.

E The pension sector reforms aim to enhance financial inclusion in retirement planning.

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Which of the following statements is incorrect regarding India's pension sector reforms?

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