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RAS question

Atal Pension Yojana (APY) provides minimum guaranteed pension of:

Correct answer: (D) ₹1,000 per month.

Atal Pension Yojana provides a minimum guaranteed pension of Rs 1,000 per month after the subscriber turns 60.

  1. (A)

    ₹5,000 per month

  2. (B)

    ₹500 per month

  3. (C)

    ₹2,000 per month

  4. (D)

    ₹1,000 per month

Explanation

Atal Pension Yojana is framed around a guaranteed pension range, not a single flat benefit for every subscriber. Under APY, the assured monthly pension after age 60 runs from Rs 1,000 to Rs 5,000, depending on the contribution chosen by the subscriber. That makes Rs 1,000 the minimum guaranteed pension and Rs 5,000 the upper end of the guarantee. The scheme targets unorganised-sector workers in the 18-40 age group and is administered by PFRDA. The word "minimum" separates the lower bound of the APY guarantee from the rest of the pension range, so only Rs 1,000 per month fits.

Why the other options are wrong

  • (A) Rs 5,000 per month is the upper end of the APY guaranteed pension range, not its minimum.
  • (B) Rs 500 per month falls below the APY guaranteed pension range, which starts at Rs 1,000 per month.
  • (C) Rs 2,000 per month may fall within the APY pension range, but it is not the minimum guaranteed amount.

Concept

Social security schemes under Indian Economy include benefit amounts, target groups and implementing institutions. RAS often asks such schemes because one qualifying word, such as minimum or maximum, changes the answer.

Source

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