Economic Survey: Assets under NPS jump 33% YoY till September
- The Pension Fund Regulatory and Development Authority has introduced new methods for authenticating subscribers, including OTP- or eSign-based, and offline Aadhaar-based onboarding, third-party onboarding after KYC verification, e-nomination and e-exit for NPS subscribers
NEW DELHI: Combined assets under management (AUM) of the National Pension System (NPS) and Atal Pension Yojana surged 33% year-on-year to touch ₹4.94 trillion as of 30 September, 2020. On the same day in 2019, the combined AUM of both the schemes stood at ₹3.71 trillion
Total subscriber base as of end of September was at 3.74 crore, up 22.2% from the year-ago period.
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According to the Economic Survey for fiscal 2020-21, released today, "The overall contribution under NPS grew by more than 30 per cent. Maximum growth was registered by all-citizen model (52.3%) followed by Atal Pension Yojana (APY) (46.1%), Corporate Sector (34.8%) and State Govt. Sector (30.7%).
Atal Pension Yojana is a periodic contribution-based pension plan and provides guaranteed pension of ₹1,000-5,000 to subscribers.
The NPS has given an annualized return of 9.71% on equity investments in the past 11 years, while the bond portion has delivered 10.31% return.
The Pension Fund Regulatory and Development Authority has introduced new methods for authenticating subscribers, including OTP- or eSign-based and offline Aadhaar-based onboarding, third-party onboarding after KYC verification, e-nomination and e-exit for NPS subscribers.
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