Atal Pension Yojan - GS questions based on daily current affairs

1)   Consider the following statements

1. Atal Pension Yojana will focus on the unorganised sector and provide subscribers a fixed minimum pension between Rs 1,000 to Rs 5,000 a month.

2. This will start at the age of 60 years, depending on the contribution option exercised on entering at an age between 18 and 40 years.

Which of the above statement is correct?

a. Only 1
b. Odisha
c. Both
d. None
Answer  Explanation 

ANSWER: Both

Explanation:
To encourage workers in the unorganized sector to voluntarily save for their retirement, the government of India will be launching a new scheme, called Atal Pension Yojana (APY), from 1st June, 2015.This scheme will replace the UPA government's Swavalamban Yojana - NPS Lite and will be administered by the Pension Fund Regulatory and Development Authority (PFRDA). The benefits of this scheme in terms of fixed pension will be guaranteed by the government and the government will also make contribution to these accounts on behalf of its subscribers.

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