Question

What is the targeted section of Atal Pension Scheme in India?
1. Unemployed Educated Section
2. Unemployed Uneducated Section
3. Unorganised Sector Workers
4. Organised Sector Workers

Answer 1

Correct Answer - Option 3 : Unorganised Sector Workers

The correct answer is Unorganised Sector Workers.

• Targeted section of Atal Pension Scheme in India is Unorganised Sector Workers.
  • Atal Pension Yojana  (APY) is a government-backed pension scheme, primarily targeted at the unorganised sector.
  • It is a social security scheme to provide a defined pension between Rs 1,000 to Rs 5,000.
  • It aims of delivering old age income security particularly to the workers in the unorganised sector with a guarantee of minimum pension after 60 years of age.

• Atal Pension Yojana:
  • Date of Launching 9th May 2015.
  • Launched By Prime Minister Narendra Modi.
  • Regulatory Body Pension Fund Regulatory and Development Authority (PFRDA).
  • Under Department Department of Financial Services, Government of India.
• Eligibility for Atal Pension Yojana:
  • Atal Pension Yojana (APY) is open to those who are not a member of any statutory social security scheme.
  • Any individual aged between 18 years to 40 years and have a bank account are eligible for the scheme.
  • He/She will have to provide proof of possession along with their Aadhaar number or must undergo Aadhaar authentication.
  • The subscriber should get their Aadhaar number recorded in the APY pension account as well as in their savings account.
  • Providing of the Aadhar number is important for the debit of the contribution instalments and for the credit of government co-contribution.