Pension Reforms — Prelims Questions

Consider the following statements about India's pension reforms: 1. The New Pension System was first introduced for central government employees in 2004 2. Under NPS, the minimum annuitization requirement at retirement is 60% of accumulated corpus 3. Atal Pension Yojana provides guaranteed pension only to organized sector employees 4. PFRDA was established as a statutory body in 2013 Which of the statements given above are correct?

Which of the following best describes the primary reason for introducing pension reforms in India?

In the context of Atal Pension Yojana, the government co-contribution is available to:

Consider the following about recent developments in India's pension sector: 1. Several states have announced reversion to Old Pension Scheme 2. The Unified Pension Scheme provides market-linked returns like NPS 3. Employer contribution under NPS has been increased to 14% 4. Systematic withdrawal plans have been introduced as alternatives to annuities Which of the above statements are correct?

The concept of 'portability' in the New Pension System refers to: