Banking · Government Social Security Schemes
Under current regulations, which statement correctly outlines the maximum age limit for enrollment in the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and the guaranteed pension range for the Atal Pension Yojana (APY)?
- 1The maximum age for entry into PMJJBY is 60 years, and the life cover is 5 lakh. The APY guarantees a minimum pension of 5,000 rupees per month for all subscribers, regardless of the contribution amount.
- 2The maximum age for entry into PMJJBY is 50 years, and the life cover is 2 lakh rupees. The APY guarantees a fixed minimum pension amount ranging from 1,000 rupees to 5,000 rupees per month starting from the age of 60 years.✓
- 3The maximum age for entry into PMJJBY is 55 years, and the annual premium is 330 rupees. The APY guarantees a minimum pension amount of 1,000 rupees to 5,000 rupees per month.
- 4The maximum age for entry into PMJJBY is 50 years, and the life cover is 4 lakh. The APY guarantees a minimum pension amount ranging from 1,000 rupees to 10,000 rupees per month.
Correct answer
The maximum age for entry into PMJJBY is 50 years, and the life cover is 2 lakh rupees. The APY guarantees a fixed minimum pension amount ranging from 1,000 rupees to 5,000 rupees per month starting from the age of 60 years.
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