PFRDA pension subscriber base rises 24% to 4.53 cr till August

The Pension Fund Regulatory and Development Authority (PFRDA) on Friday said subscriber base under its flagship pension schemes rose by 24 per cent in August this year to over 4.53 crore.

The PFRDA administers two pension schemes -- National Pension System (NPS) and Atal Pension Yojana (APY).

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"The number of subscribers in various schemes under the National Pension System (NPS) rose to 453.41 lakh by end-August 2021 from 365.47 lakh in August 2020 showing a year-on-year increase of 24.06 per cent," the PFRDA said in a release.

The numbers of subscribers under APY grew by 33.20 per cent to 304.51 lakh as of August 31, 2021, showed PFRDA data.

Asset wise, at August-end, total pension assets under management stood at Rs 6,47,621 crore, showing a year on year growth of 32.91 per cent, it added.

Of this, the assets under APY stood at Rs 18,059 crore, registering a growth of nearly 33 per cent from a year ago.

NPS mainly caters to the organised sector including the central and state government employees, autonomous bodies, private corporations, among others.

Atal Pension Yojana (APY) targets the workers in the unorganised sector, which generates the bulk of employment in the country.