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SSC Selection Post 2024 PYQ — Question 34

SSC Selection Post - Matriculation Level - 21 June 2024 - Shift 1 • General Awareness • Q34

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As of December 2021, NPS and APY are the two flagship pension schemes of _________.

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Correct answer: C

Explanation

The correct answer is option 3 i.e. PFRDA.

  • As of December 2021, National Pension System (NPS) and Atal Pension Yojana (APY) are the two flagship pension schemes of PFRDA.
  • The National Pension System (NPS) is a voluntary, defined contribution retirement savings scheme designed to enable subscribers to make the best decisions regarding their future through systematic savings during their tenure.
  • The Atal Pension Yojana (APY) is a government-supported pension scheme designed mainly for workers in the unorganized sector. Its goal is to create a broad social security system that ensures financial stability in old age, particularly for the poor and underprivileged sections of society.
  • The National Pension System (NPS) was introduced on 1st January 2004  and  The Atal Pension Yojana (APY) launched on 9th May 2015.
  • PFRDA was established by the Government of India in the year 2003 to regulate and develop the pension sector in India.