Pension Schemes’ Subscribers Rose 24% In Might

New Delhi:

Subscribers below the 2 flagship pension schemes administered by Pension Fund Regulatory and Improvement Authority (PFRDA) rose by over 24 per cent from a 12 months in the past to five.32 crore as of Might 31, 2022, official information confirmed on Monday.

“The variety of subscribers in numerous schemes below the Nationwide Pension System (NPS) rose to 531.73 lakh by the end-Might 2022 from 428.56 lakh in Might 2021 displaying a year-on-year enhance of 24.07 per cent,” the Pension Fund Regulatory and Improvement Authority (PFRDA) mentioned in a launch.

Atal Pension Yojana (APY) – the very best contributor to the subscriber base — registered a development of 31.6 per cent to three.72 crore by finish of Might this fiscal 12 months.

The variety of subscribers below NPS for central authorities workers rose by 5.28 per cent to 22.97 lakh, whereas that for state governments grew by 7.70 per cent to 56.40 lakh.

For the company sector, the variety of NPS subscribers elevated by 26.83 per cent to 14.69 lakh, whereas that for the all residents class jumped by 39.11 per cent to 23.61 lakh by the top of Might, the information confirmed.

Below the NPS Lite class, whereby no recent registration is permitted from April 2015, the subscribers fell by 2.7 per cent to 41.85 lakh.

The full property below administration (AUM) below the 2 schemes grew by 21.5 per cent to cross Rs 7.38 lakh crore as of Might 31, 2022.

The AUM below APY stood at Rs 21,142 crore, whereas the NPS accounted for the remaining Rs 7,17,172 crore.

APY is principally focused in the direction of offering social safety profit after retirement to those that work within the unorganised sector and kind a big chunk of employment within the nation.