Previous Year Question
In Which of the following years ‘Swavalamban Scheme’ was launched?
2010 AD
2011 AD
2012 AD
2014 AD
Correct Answer: A
Detailed Solution
The Swavalamban Scheme was announced in the Union Budget 2010-11. It was a co-contributory pension scheme intended to encourage people in the unorganised sector to voluntarily save for their old age.
Under the scheme, when an eligible NPS subscriber made his or her own contribution within the prescribed limit, the Central Government contributed ₹1,000 per year to the subscriber's pension account.
The scheme was launched on 26 September 2010, and PFRDA was entrusted with its implementation.
Current Status (2026): The Swavalamban Scheme is no longer operated as a separate pension scheme for new subscribers. When the Atal Pension Yojana (APY) was introduced, existing Swavalamban subscribers were provided for automatic migration to APY unless they opted out. In January 2026, the Union Government approved continuation of APY up to FY 2030-31.