The Atal Pension Yojana:
1. guarantees a minimum pension amount at the age of 60
2. can be joined by any adult Indian below 40 years
3. includes half of contribution from Government till maturity
Select the correct option from the codes given below:

Answer: [A] Only 1 & 2

The beneficiaries of the existing Swavalamban scheme will be automatically shifted to the new scheme, if they don’t opt otherwise. The main attraction of the scheme is that it guarantees a minimum pension amount at the age of 60, to subscribers which will vary from Rs. 1000 per month; Rs. 2000 per month; Rs. 3000 per month; Rs. 4000 per month and Rs. 5000 per month depending upon their contributions. The minimum age of joining APY is 18 years and maximum age is 40 years. The minimum period of contribution by subscriber is 20 years or more. The Central Government will contribute 50% of the subscriber’s contribution or Rs. 1000 per annum for a period of 5 years. This provision is for people who are non-tax payers and join NPS before 31st December, 2015.

This question is a part of GKToday's Integrated IAS General Studies Module