Question
Which of the following statements regarding Atal Pension
Yojana (APY) is/are correct? I. APY is a defined-benefit pension scheme. II. APY operates on the National Pension System (NPS) architecture. III. Income-tax payers are eligible for fresh enrollment. IV. Pension begins only after attaining 60 years of age.Solution
APY is a defined-benefit pension scheme, meaning subscribers receive a pre-determined pension amount (₹1,000–₹5,000 per month) after attaining 60 years of age. The scheme is implemented through the NPS architecture under the supervision of PFRDA. Pension starts only after the subscriber reaches 60 years of age. Statement III is incorrect because income-tax payers are not eligible for fresh enrollment under APY. Hence, statements I, II and IV are correct.
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