Start learning 50% faster. Sign in now
APY was launched on 9th May, 2015 by the Prime Minister. APY is open to all saving bank/post office saving bank account holders in the age group of 18 to 40 years and the contributions differ, based on pension amount chosen. Subscribers would receive the guaranteed minimum monthly pension of Rs. 1,000 or Rs. 2,000 or Rs. 3,000 or Rs. 4,000 or Rs. 5,000 at the age of 60 years. Under APY, the monthly pension would be available to the subscriber, and after him to his spouse and after their death, the pension corpus, as accumulated at age 60 of the subscriber, would be returned to the nominee of the subscriber. The minimum pension would be guaranteed by the Government, i.e., if the accumulated corpus based on contributions earns a lower than estimated return on investment and is inadequate to provide the minimum guaranteed pension, the Central Government would fund such inadequacy. Alternatively, if the returns on investment are higher, the subscribers would get enhanced pensionary benefits. In the event of pre-mature death of the subscriber, Government has decided to give an option to the spouse of the subscriber to continue contributing to APY account of the subscriber, for the remaining vesting period, till the original subscriber would have attained the age of 60 years. The spouse of the subscriber shall be entitled to receive the same pension amount as that of the subscriber until the death of the spouse. After the death of both the subscriber and the spouse, the nominee of the subscriber shall be entitled to receive the pension wealth, as accumulated till age 60 of the subscriber. As on 31st July, 2021, a total of 321.02 lakh subscribers have been enrolled under APY.
How is T related to S?
A taxi driver commenced his journey from a point and drove 15 km towards North and turned to his left and drove another 10 km. After waiting to meet one...
Which student scored the 4th lowest number of marks?
Four number-pairs have been given, out of which three are alike in some manner and one is different. Select the number-pair that is different.
In a class, four students ranked between Rahul and Sreeja. Sreeja ranked 14th from the top while Rahul ranked 7th from the bottom. How many students are...
Q is older than R. N and O are of equal age. S is the youngest. P is younger than O. P is older than Q. How many persons are younger than P?
Seven persons, M, N, O, P, Q, R and S are of different weights. Only Q is lighter than O. P is heavier than M. R is heavier than N. P is not heavier tha...
How many persons have less gold than K?
Bennet is older than Carl but not as old as David. Emma is not as old as Bennet. Who is the oldest of all?
In a class, all the students are standing in a row. If a particular student is 18th from both the ends, how many students are there in the cl...