Pension Schemes — MCQ Practice
Interactive MCQ Practice
Test your knowledge. Click “Solve” to reveal options, select your answer, then check the result. 5 questions available.
Which of the following statements regarding the National Pension System (NPS) in India is/are correct? 1. It is a Defined Benefit (DB) pension scheme. 2. Both Tier I and Tier II accounts offer tax benefits on contributions under Section 80C. 3. At retirement, a minimum of 40% of the corpus must be used to purchase an annuity. 4. It is regulated by the Employees' Provident Fund Organisation (EPFO).
Consider the following statements regarding the Atal Pension Yojana (APY): 1. It is primarily targeted at workers in the organized sector. 2. Subscribers receive a guaranteed minimum monthly pension after attaining 60 years of age. 3. The government co-contributes to the scheme for all subscribers for a period of 5 years. Which of the statements given above is/are correct?
With reference to the Employees' Pension Scheme (EPS), 1995, consider the following statements: 1. It is administered by the Pension Fund Regulatory and Development Authority (PFRDA). 2. Employees are eligible for a monthly pension after completing 10 years of service and attaining 58 years of age. 3. The employer's contribution to EPF is entirely diverted to EPS. Which of the statements given above is/are correct?
Which of the following constitutional articles provides the foundational ethos for public assistance in cases of old age, unemployment, and sickness in India?
Consider the recent policy changes in India's pension sector (2019-2024): 1. The central government's contribution to NPS for its employees was increased to 14%. 2. Some state governments have reverted to the Old Pension Scheme (OPS) for their employees. 3. PFRDA has introduced a mandatory guaranteed return scheme for all NPS subscribers. Which of the statements given above is/are correct?