Regarding ‘Atal Pension Yojana’, which of the following statements is/are correct?

1. It is a minimum guaranteed pension scheme mainly targeted at unorganized sector workers.

2. Only one member of a family can join the scheme.

3. Same amount of pension is guaranteed for the spouse for life after the subscriber’s death.

Select the correct answer using the code given below.

Solution

The scheme provides for a minimum guaranteed fixed pension for the beneficiaries ranging from Rs 1,000 per month to Rs 5,000 per month after attaining the age of 60 years. The scheme is open to all citizens of India who are in the age group of 18-40 years and not limited to only one member of a family, those with a bank account and currently not covered under any other social security benefit scheme. After the death of the subscriber, the same pension amount will be paid to the spouse of the subscriber. On the demise of both subscriber and spouse, the accumulated pension as accumulated till the age 60 years of the subscriber will be returned to the nominee.