Atal Pension Yojana MCQ - Practice Questions with Answers

The subscriber contributes from the joining age until age 60. Thereafter, the Central Government-guaranteed minimum monthly pension begins and continues for the subscriber's lifetime. The available slabs are ₹1,000, ₹2,000, ₹3,000, ₹4,000 and ₹5,000, so option C is correct.

Statements 1 and 2 are correct. The pension regulator administers the scheme within the National Pension System architecture, and the government guarantee covers five monthly slabs from ₹1,000 to ₹5,000 after age 60. Statement 3 is incorrect because, from 1 October 2022, a citizen who is or has been an income-tax payer cannot open a new account.

Option D is incorrect. The official enrolment rule describes Aadhaar as desirable for proper identification, not mandatory at the time of enrolment. By contrast, a savings bank or post office savings account is mandatory, one individual may hold only one account, and monthly, quarterly and half-yearly auto-debit frequencies are permitted.

Both statements are correct. The scheme first protects the surviving spouse by paying the same guaranteed pension for life. When the spouse also dies, the pension payments end and the pension wealth accumulated up to the subscriber's age of 60 is returned to the nominee. Thus the benefits operate in sequence, not as alternatives.

A new subscriber must be an Indian citizen aged 18 to 40 and must hold a savings bank or post office savings account. From 1 October 2022, anyone who is or has been an income-tax payer is barred from new enrolment. The 35-year-old in option A satisfies all three conditions.