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Regarding ‘Atal Pension Yojana', which of the following statements is/are correct?

1. It is a minimum guaranteed pension scheme mainly targeted at unorganized sector workers.
2. Only one member of a family can join the scheme.
3. Same amount of pension is guaranteed for the spouse for life after subscriber's death.

Select the correct answer using the code given below.
(a) 1 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) 1, 2 and 3



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The Atal Pension Yojana (APY) is a pension scheme initiated by the Government of India. It aims to provide a minimum guaranteed pension to workers in the unorganized sector. The scheme is open to Indian citizens aged between 18 and 40 who have a savings bank account and are not covered by any other social security scheme. Subscribers contribute regularly until the age of 60, and upon retirement, they receive a monthly pension based on their contribution amount. The scheme allows multiple family members to join but requires individual accounts. In the event of the subscriber's death, the spouse is entitled to receive the same pension. The Atal Pension Yojana is administered by the Pension Fund Regulatory and Development Authority (PFRDA) and is available through various banks and financial institutions.


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