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    Question

    The Gross Enrolments under the Atal Pension Yojana (APY)

    have crossed 7 crore with over 56 lakh enrolments in the financial year 2024-25. What is the unique aspect of APY that differentiates it from other pension schemes in India?
    A It offers guaranteed returns only to the subscriber while the spouse receives a reduced pension upon the subscriber's death. Correct Answer Incorrect Answer
    B The corpus accumulated under the APY is fully refunded to the subscriber's nominee after the death of both the subscriber and the spouse. Correct Answer Incorrect Answer
    C APY offers flexibility in choosing the pension amount with market-linked returns. Correct Answer Incorrect Answer
    D APY only covers individuals who are formally employed with a fixed pension contribution scheme. Correct Answer Incorrect Answer
    E APY does not offer any government-backed guarantees on the pension amount. Correct Answer Incorrect Answer

    Solution

    APY offers a defined benefit pension scheme with a unique feature that ensures the same pension amount is provided to the spouse upon the subscriber's death, and after the demise of both the subscriber and spouse, the corpus is refunded to the nominee. This makes it stand out from other schemes which may not provide the same level of security to family members.

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