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. The same amount of pension is guaranteed for the spouse for life after the subscriber's death. Select the correct answer using the code given below.?

Option 3 : 1 and 3 only

The correct answer is 1 and 3 only.

• Atal Pension Yojana is a pension scheme introduced by the Government of India in 2015–16.
• The objective of the scheme is to provide pension benefits to individuals in the unorganized sector. Hence statement 1 is correct.
• Atal Pension Yojana (APY) is open to all bank account holders who are not members of any statutory social security scheme. Hence statement 2 is incorrect.
• Atal Pension Yojana scheme is regulated and controlled by the Pension Funds Regulatory Authority of India (PFRDA).
• Beneficiaries of the scheme can choose to receive a periodic pension of Rs. 1000, Rs. 2000, Rs. 3000, Rs. 4000, or Rs. 5000, depending on their monthly contributions.
• Individuals who are above 18 years and below 40 years of age are eligible to invest in the Atal Pension Yojana.
• In the case of a beneficiary’s death, before he/she reaches 60 years of age, his/her spouse shall be entitled to receive a pension. As such, the spouse has an option to either exit the scheme with the corpus or continue to receive pension benefits.
• The spouse of the subscriber shall be entitled to receive the same pension amount even after the subscriber's death. Hence statement 3 is correct.