What is the maximum age for joining Atal Pension Yojana?

40 years

The correct answer is Option (3) - 40 years

The Atal Pension Yojana (APY) is a pension scheme launched by the Government of India to provide a guaranteed pension to citizens in the unorganized sector. It aims to address the pension needs of workers who are not covered by any formal pension scheme.

Here's an explanation of the maximum age criteria for joining APY:

Maximum Age: The maximum age for joining the Atal Pension Yojana is 40 years. This means that individuals who are between 18 years and 40 years of age are eligible to enroll in the scheme.

The rationale behind setting the maximum age limit at 40 years is to ensure that individuals have a sufficient working period ahead of them to contribute to the scheme and accumulate the required pension corpus for their retirement years.

By allowing individuals up to the age of 40 to join the scheme, the government aims to provide a pension option for those who may have missed out on formal pension benefits earlier in their working lives. This helps in promoting financial security and stability among workers in the unorganized sector, ensuring that they have a source of income during their old age.

It's important to note that the earlier an individual joins the APY, the lower the contribution amount required to secure a certain pension amount, as contributions are based on age and pension amount chosen. Therefore, individuals are encouraged to enroll in the scheme at the earliest opportunity to maximize their pension benefits while keeping their contributions affordable.