​ Consider the following statements regarding Pradhan Mantri Vaya Vandana Yojana.

1. It is a social security scheme for senior citizens intended to give an assured minimum pension to them based on an assured return on the purchase price/subscription amount.

2. Union Cabinet has recently delegated the authority to Union Finance Minister to approve the annual reset rate of return at the beginning of every financial year.

3. The scheme has allowed initially an assured rate of return of 7.40 % per annum for the year 2020-21 per annum and thereafter to be reset every year. 

Which of the statements given above is/are correct?