Q1. With reference to the Atal Pension Yojana (APY), consider the following statements: 1) The APY is administered by the Pension Fund Regulatory and Development Authority (PFRDA) under the Ministry of Finance. 2) The Government of India guarantees the minimum pension under APY if investment returns underperform. Which of the statements given above is/are correct?
Explanation
Both statements are correct. PFRDA, the statutory pension regulator under the Ministry of Finance, administers the Atal Pension Yojana, which crossed nine crore enrolments by April 22, 2026. The Government of India provides a guarantee of the chosen minimum pension if the investment returns of contributions underperform the expected level.
