MCQ
Atal Pension Yojana MCQ - Practice Questions with Answers
Solve 99 Atal Pension Yojana questions for RAS/RPSC preparation.
Practice questions
Q1With reference to identity and account requirements under the Atal Pension Yojana, consider the following statements: 1. Aadhaar may be provided at the time of enrolment under APY. 2. A savings bank account or post-office savings bank account is mandatory for joining APY. 3. A mobile number may be provided to facilitate communications about the APY account. 4. Aadhaar is desirable but not mandatory at the time of enrolment. Which of the statements given above are correct?
All four statements are correct. Aadhaar may be provided at enrolment and is described as desirable but not mandatory. A savings bank or post-office savings bank account is mandatory for joining, and a mobile number may be provided for account communication.
Q2With reference to pension benefits under the Atal Pension Yojana, consider the following statements: 1. The pension starts when the subscriber attains 58 years of age. 2. APY offers guaranteed monthly pension slabs of Rs 1,000, Rs 2,000, Rs 3,000, Rs 4,000 and Rs 5,000. 3. The maximum guaranteed monthly pension slab under APY is Rs 10,000. Which of the statements given above are correct?
Only statement 2 is correct. APY pension starts after the age of 60 years, not 58 years, and the guaranteed monthly pension slabs go up to Rs 5,000, not Rs 10,000.
Q3With reference to implementation and investment management under APY, consider the following statements: 1. The scheme is implemented through categories of banks and the Department of Posts. 2. Contributions under APY are invested as per investment guidelines prescribed by PFRDA for APY. 3. APY subscribers individually choose equity, corporate bond and government-security allocation every financial year. 4. The APY funds are managed by SBI Pension Fund Pvt. Ltd, LIC Pension Fund Ltd and UTI Retirement Solution Ltd. Which of the statements given above are correct?
Statements 1, 2 and 4 are true. PFRDA lists banks and the Department of Posts as implementation channels; APY contributions are invested under PFRDA's APY investment guidelines; and the funds are managed by the named pension fund managers. Statement 3 is false because the official description says APY investments follow PFRDA guidelines, not individual yearly asset-allocation choices by subscribers.
Q4With reference to return and corpus provisions under the Atal Pension Yojana, consider the following statements: 1. Each APY subscriber is entitled to a Central Government guaranteed minimum pension after the age of 60 years until death. 2. If the returns on contributions are lower than the assumed returns, the shortfall is funded by the Government of India. 3. If investment returns are lower than assumed, the shortfall is compulsorily recovered from the nominee. 4. On death of both subscriber and spouse, the nominee receives the pension corpus. Which of the statements given above are correct?
Statement 1 is correct because APY provides a Central Government guaranteed minimum pension after 60 until death. Statement 2 is correct because the government funds the chosen minimum-pension shortfall when investment returns underperform. Statement 3 is incorrect: the cited rule places the shortfall guarantee on the government, not on the nominee. Statement 4 is correct: the nominee receives pension wealth after both subscriber and spouse die.
Q5With reference to the death of an APY subscriber before 60 years of age, consider the following statements: 1. The spouse may continue contributions for the remaining vesting period until the original subscriber would have attained 60 years. 2. If the spouse continues the account, the spouse becomes entitled to lifelong pension from that account. 3. The entire accumulated corpus till date may alternatively be returned to the spouse or nominee. 4. In case of an unmarried subscriber, the entire corpus is returned to the nominee. Which of the statements given above are correct?
All four statements are correct. The spouse has a continuation option up to the original subscriber's notional age of 60, can receive lifelong pension from that account, and the alternative corpus-return route is available; for an unmarried subscriber, the corpus goes to the nominee.
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6With reference to benefits under the Atal Pension Yojana, consider the following statements: 1. The pension available under APY ranges from Rs 1,000 to Rs 5,000 per month. 2. After the subscriber's death, the spouse is entitled to receive the same pension amount as the subscriber. 3. After the demise of both the subscriber and spouse, the nominee receives the pension wealth accumulated up to the subscriber's age of 60 years. 4. The nominee receives a lifelong monthly pension immediately after the subscriber's death, even when the spouse is alive. Which of the statements given above are correct?
7With reference to co-contribution and tax-payer restrictions in the Atal Pension Yojana, consider the following statements: 1. The Government co-contribution was available only to subscribers who joined between 1 June 2015 and 31 March 2016. 2. The Government co-contribution was available for a period of 5 years. 3. Beneficiaries of social security schemes were eligible for the Government co-contribution. 4. From 1 October 2022, income-tax payers became ineligible to open a new APY account. Which of the statements given above are correct?
8Consider the following statements: 1. The subscriber is required to contribute from the age of joining APY till age 60. 2. The age of exit and start of pension under APY is 60 years. 3. The minimum contribution period under APY must be 20 years or more because the joining age ends at 40 years. Which of the statements given above are correct?
9With reference to APY account rules, consider the following statements: 1. An individual can open only one APY account. 2. Multiple APY accounts are permitted if they are in different banks. 3. A minor cannot open an APY account. Which of the statements given above are correct?
10With reference to contributions under the Atal Pension Yojana, consider the following statements: 1. Contributions may be made only by cash deposit at a government treasury. 2. Contributions can be made at monthly, quarterly or half-yearly intervals. 3. Contributions are made through auto-debit from the subscriber's savings bank account or post-office savings bank account. Which of the statements given above are correct?
11With reference to death of an APY subscriber before 60 years of age, consider the following statements: 1. The nominee, rather than the spouse, is allowed to continue contributions for the remaining vesting period. 2. The spouse may continue contributions till the date on which the original subscriber would have attained 60 years. 3. A new PRAN is generated in the name of the deceased subscriber for continuing the account. Which of the statements given above are correct?
12Consider the following statements: 1. Atal Pension Yojana is a voluntary pension scheme launched by the Government of India. 2. It is especially aimed at the poor, the under-privileged and workers in the unorganised sector. 3. The scheme is primarily a pension product for income-tax payers in the organised sector. Which of the statements given above are correct?
13With reference to changing pension amount under APY, consider the following statements: 1. APY subscribers can decrease the pension amount during the course of accumulation. 2. APY subscribers can increase the pension amount during the course of accumulation. 3. The option to increase or decrease the pension amount is available only once in a financial year. 4. APY prohibits any change in pension amount after registration. Which of the statements given above are correct?
14With reference to the basic design of the Atal Pension Yojana, consider the following statements: 1. APY is a voluntary pension scheme launched by the Government of India for all citizens of India, with a special focus on the poor, under-privileged and unorganised-sector workers. 2. The guaranteed minimum monthly pension under APY starts after the subscriber attains 60 years of age. 3. APY pension starts after the subscriber attains 58 years of age if the subscriber has contributed for at least 20 years. 4. APY provides a selectable guaranteed monthly pension slab of Rs. 7,500. Which of the statements given above are correct?
15With reference to APY's relationship with NPS and Swavalamban/NPS Lite, consider the following statements: 1. A Central or State Government employee may subscribe to APY if the person satisfies the scheme's eligibility conditions. 2. An existing NPS subscriber may also subscribe to APY if the person meets APY eligibility conditions. 3. PRAN numbers for APY and NPS are the same because PRAN is allotted person-wise, not scheme-wise. 4. Swavalamban/NPS Lite subscribers between 18 and 40 years of age are eligible to migrate to APY. Which of the statements given above are correct?