📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

    Question

    The Atal Pension Yojana (APY) is a flagship social

    security scheme of the Government of India. Under the APY, what happens if a subscriber fails to make timely contributions?
    A The pension amount is reduced proportionally. Correct Answer Incorrect Answer
    B The subscriber is required to pay a penalty, and the account may be frozen or closed. Correct Answer Incorrect Answer
    C Contributions are automatically adjusted based on the subscriber’s income. Correct Answer Incorrect Answer
    D The subscriber must switch to a different government pension scheme. Correct Answer Incorrect Answer
    E The scheme offers a grace period without any penalties for missed contributions. Correct Answer Incorrect Answer

    Solution

    If the subscriber fails to make contributions on time, penalties are imposed, and prolonged failure can result in freezing or closure of the APY account.

    Practice Next
    More Static GA Questions
    ask-question