APL to replace Swavalamban Scheme from 1stJune 2015

Q.  Name the scheme that will replace the existing Swavalamban Scheme with effect from 1st June’2015?
- Published on 20 Jul 15

a. National Pension Scheme
b. Atal Pension Yojana
c. Pradhan Mantri Vradha Pension Scheme
d. None of these

ANSWER: Atal Pension Yojana
 
The APY will be focussed on all citizens in the unorganised sector, who join the National Pension System (NPS) administered by the Pension Fund Regulatory and Development Authority (PFRDA) and who are not members of any statutory social security scheme. Under the APY, the subscribers would receive the fixed pension of Rs. 1000 per month, Rs. 2000 per month, Rs. 3000 per month, Rs. 4000 per month, Rs. 5000 per month, at the age of 60 years, depending on their contributions, which itself would vary on the age of joining the APY. The minimum age of joining APY is 18 years and maximum age is 40 years.

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