GENERAL KNOWLEDGE

Detailed explanation-1: -4000 per month, Rs. 5000 per month, at the age of 60 year. Under APY, the monthly pension would be available to the subscriber, and after him to his spouse and after their death, the pension corpus, as accumulated at age 60 of the subscriber, would be returned to the nominee of the subscriber.

Detailed explanation-2: -Atal Pension Yojana Scheme Details By investing through this scheme, one can get a fixed pension ranging from Rs. 1, 000 to a maximum of Rs. 5, 000/month. The eligible Atal Pension Yojana age limit is 18 and up to 40 years.

Detailed explanation-3: -Atal Pension Yojana (APY), a pension scheme for citizens of India, is focused on the unorganised sector workers. Under the APY, guaranteed minimum pension of Rs. 1, 000/-or 2, 000/-or 3, 000/-or 4, 000 or 5, 000/-per month will be given at the age of 60 years depending on the contributions by the subscribers.

Detailed explanation-4: -What this means is that Rs 5, 000 after 30 years, i.e., at the age of 60 years, will be the equivalent to today’s Rs 656.83. It is important to note that as inflation increases, the purchasing power of Rs 5, 000 will keep on decreasing.