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    Question

    After how many months of non-payment , is the Atal

    Pension Yojana account deactivated?
    A 6 months Correct Answer Incorrect Answer
    B 9 months Correct Answer Incorrect Answer
    C 12 months Correct Answer Incorrect Answer
    D 18 months Correct Answer Incorrect Answer
    E 24 months Correct Answer Incorrect Answer

    Solution

    The flagship social security scheme of Government of India ‘Atal Pension Yojana’ (APY) was launched on 9th May 2015. It is a voluntary, periodic contribution-based pension system. Depending on the monthly pension, the age of entry and the contribution pattern (monthly, quarterly or half yearly), the contribution to APY can range from Rs.42 to Rs.7778 :  

     

    In case of non - payment of contribution in APY:  

    1. a. On 6 months of non-payment of contribution, APY account will be frozen  
    1. b. On 12 months of non-payment of contribution, APY account will be deactivated  
    1. c. Automatic closure of the APY account after 24 months of non-payment of contribution  
    The Bank can recover the due amount any time until the last day of that month. Funds can be recovered as and when there are funds in the APY-linked bank account and at any point of time during the month.  

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