UPSC Prelims 2016 Q76: Indian Economy – Human Development, Poverty & Employment Schemes
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 subscriber’s death.
Select the correct answer
using the code given below:
- (a) 1 only
- (b) 2 and 3 only
- (c) 1 and 3 only
- (d) 1, 2 and 3
Answer: (c) 1 and 3 only
Explanation
Atal Pension Yojana (APY)
Launched in 2015 and run by the PFRDA.
| Statement | Verdict | Fact |
|---|---|---|
| 1. It is a minimum guaranteed pension scheme mainly targeted at unorganized sector workers | Correct | Guaranteed pension of Rs 1,000 to Rs 5,000 a month from age 60 |
| 2. Only one member of a family can join the scheme | Incorrect | Any eligible citizen can join; there is no family limit |
| 3. Same amount of pension is guaranteed for the spouse for life after subscriber's death | Correct | After both die, the corpus goes to the nominee |
Key facts:
| Feature | Detail |
|---|---|
| Entry age | 18 to 40 years |
| Pension starts | At 60 |
| Needs | A savings bank account |
| Not eligible since October 2022 | Income tax payers |
Answer: (c) 1 and 3 only.
Why each option is right or wrong
- (a) Incorrect. Statement 3 is also true: the spouse gets the same pension for life.
- (b) Incorrect. Statement 2 is false; more than one member of a family can join.
- (c) CORRECT. It is a minimum guaranteed pension scheme with the same pension for the spouse.
- (d) Incorrect. Statement 2 is false; there is no one-per-family rule.
Key point
Atal Pension Yojana (2015): guaranteed pension Rs 1,000-5,000 at 60; entry age 18-40; spouse gets the same pension; corpus to nominee.
Remember
Atal Pension: 18 to 40, Rs 1,000 to 5,000, spouse covered.
Common mistakes
- Accepting 'only one member of a family'; no such limit exists.
- Forgetting the entry age of 18 to 40 years.
- Confusing it with PM Shram Yogi Maan-dhan, a later pension scheme.
Exam tip
'Only' in a welfare scheme statement is usually the false part.
Sources
- Pension Fund Regulatory and Development Authority — Atal Pension Yojana scheme details
- Department of Financial Services — Atal Pension Yojana