Atal Pension Yojana (APY), NPS account subscribers, others soar 21.67%; net pension assets grow 36.83 pct | PFRDA achievement

Pension Fund Regulatory and Development Authority (PFRDA) has added another feather in its cap by adding around 21.67 per cent more account subscribers in Atal Pension Yojana (APY) and National Pension System (NPS) on a year on year (YoY) basis. As on 31st December 2020, number of subscribers under the NPS scheme and APY rose to 397.70 lakh showing a YoY increase of 21.67 per cent, reported PFRDA. The pension regulator further reported that total assets under the management logged YoY growth of 36.83 per cent in the same period.

Number of Subscribers in various schemes under NPS and APY

Source: PFRDA

The PFRDA reported that under the APY scheme, total number of subscribers registered YoY growth of 61.43 lakh as the total number of APY subscribers in December 2019 was 196.37 lakh that rose to 257.80 lakhs by the end of December 2020 — means around 31.28 YoY growth. However, the total number of pension subscribers under PFRDA that includes Central Government, State Government, Corporates, All Citizen Sector too, has grown from 326.86 lakh to 397.70 lakh — a big jump by nearly 21.67 per cent.

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PFRDA also reported that as on 31st December 2020, total pension assets under management stood at Rs 5,48,913 crore showing a YoY growth of 36.83 per cent. During this period net assets under APY grew from Rs 9,788  crore to Rs Rs 14,724 — a jump of around 50.42 per cent. In the same period, net assets under NPS scheme grew from Rs 3,753 crore to Rs 4,319 crore — near 15 per cent rise. However, net asset YoY growth under PFRDA grew from Rs 4,01,152 crore to Rs 5,48,913 crore by the end of December 2020.

Total Assets under Management under NPS and APY

Source: PFRDA

For information to the readers PFRDA is the statutory authority established by an enactment of the Parliament, to regulate, promote and ensure orderly growth of the National Pension System (NPS) and pension schemes to which this Act applies. NPS was initially notified for central government employees recruits wef 1st Jan 2004 and subsequently adopted by almost all State Governments for its employees. NPS was extended to all Indian citizens (resident/non-resident/overseas) voluntarily and to corporates for its employees.