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JAIIB IE&IFS Unit 43 — Pension Products: Free MCQs with Explanations

By Swarnakshi Jha (ex-banker) · Updated 20 September 2026 · Paper 1 of the November 2026 cycle (1 November 2026)

This page is a free slice of our JAIIB IE&IFS question bank for Unit 43 — Pension Products (Module D — Financial Products and Services). The Mock Centre holds 107 questions on this unit alone, every one with a why-right / why-wrong explanation; below are the facts examiners keep returning to, five of those questions to try, and the traps that cost marks.

IE&IFS · Module D107 MCQs in the Mock Centre5 free belowPaper on 1 November 2026

Key facts examiners test from this unit

  1. Pension = income in unproductive years; two stages — ACCUMULATION then VESTING; covers LIVING-TOO-LONG risk; annuity = life insurance's reverse (stops on death); five core functions.
  2. EPFO: 1952 Act, Labour Ministry, Central Board of Trustees (Labour-Minister chair); 20+ employee firms; three schemes — EPF + EPS + EDLIS (gratuity is NOT EPFO's); UAN = 12 digits (Oct 2014).
  3. Contribution math: 12% + 12% on Basic+DA; employer's split = 8.33% EPS + 3.67% EPF; extra 1% = 0.5% EDLI + 0.5% admin; ₹15,000 floor salary → ₹1,800 minimum; FY22 interest 8.10%; tax-free interest cap ₹2.5 lakh; 5-year withdrawal rule; Exempted Funds — 25% central bonds, ≤10% private bonds, retirement 58–60.

5 free practice questions — tap an option

Five basic questions from this unit. Answers lock on the first tap, exactly as in the exam, and a short explanation opens underneath. The Mock Centre adds the moderate and tough questions, why every other option is wrong, the concept capsule and the exam tip — with your score and revision dates tracked.

Question 1 of 5
Increased longevity necessitates pension because:
Why (b): Increased longevity necessitates pensions because LONGER LIVES NEED LONGER FUNDING — more retirement years must be financed from the corpus you built while working.
Question 2 of 5
The EPF scheme is managed by:
Why (b): The EPF scheme is managed by the EPFO — the Employees' Provident Fund Organisation administers the provident fund for organised-sector workers.
Question 3 of 5
PPF maximum yearly investment:
Why (b): The PPF maximum yearly investment is ₹1,50,000 — aligned with the Section 80C ceiling.
Question 4 of 5
NPS is administered and regulated by:
Why (b): The NPS is administered and regulated by the PFRDA — the Pension Fund Regulatory and Development Authority.
Question 5 of 5
APY accounts per subscriber:
Why (a): A subscriber may hold ONLY ONE APY account — one person, one guaranteed pension.
0 of 5 answered.

Traps in this unit

Confusable AConfusable BThe difference
AccumulationVestingPaying in vs drawing out
AnnuityLife insuranceStops on death vs pays on death
Practise all 107 questions on Unit 43. The free demo opens a slice of every subject with the same explanations; the IE&IFS Online-only pass unlocks all 3,032 IE&IFS questions, the full and module mocks, Smart Revision and the Readiness Score for one year (₹1,299). Not sure where you stand? Take the free 10-question test first.
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← Unit 42: Insurance Products · Unit 44: Para Banking and Financial Services Provided by Banks → · All IE&IFS units · JAIIB 2026 guide

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Independent study aid — not affiliated with, endorsed by, or sponsored by the Indian Institute of Banking & Finance (IIBF). Exam pattern, dates, fees and passing criteria are set by IIBF — always confirm the current rules at iibf.org.in. Regulatory figures verified as of September 2026; verify from official sources before relying on them in practice.