What is the primary objective of the Atal Pension Yojana (APY)?

To provide a guaranteed return on investment for all Indian citizens. To encourage investment in the stock market for retirement planning. To offer pension benefits to individuals working in the unorganized sector. To replace the existing National Pension Scheme with a more accessible option.

Which of the following is a key feature of the APY scheme?

Mandatory investment in mutual funds. Guaranteed minimum pension amount. Tax exemption on withdrawals after the age of 60. Coverage for pre-existing medical conditions.

What is the maximum age at which an individual can enroll in the APY scheme?

30 years 40 years 50 years 60 years

Under what circumstances can an individual withdraw from the APY scheme before reaching the age of 60?

To fund higher education expenses. To purchase a new home. In case of terminal illness or death. To start a new business venture.

What is the primary target group for the Atal Pension Yojana?

High-income earners seeking tax benefits. Individuals employed in the organized sector with existing pension plans. People working in the unorganized sector without formal pension coverage. Retired individuals looking for additional income sources.

What is the role of the Pension Funds Regulatory and Development Authority (PFRDA) in the APY scheme?

To manage the investment portfolio of the scheme. To provide financial advice to APY beneficiaries. To regulate and oversee the implementation of the scheme. To collect contributions from APY subscribers.

What is the impact of the recent government notification on the APY scheme?

It extends the eligibility criteria to include non-resident Indians. It increases the minimum guaranteed pension amount for all subscribers. It restricts income taxpayers from joining the scheme. It introduces a new withdrawal option for medical emergencies.