Pension assets under NPS up 36% y-o-y in January: PFRDA1 min read . Updated: 16 Feb 2021, 04:47 PM IST
- Total subscriber base at the end of January stood at 4.05 crore versus 3.33 crore in January 2020 showing a year- on- year increase of 21.63%.
Combined assets under management (AUM) of the National Pension System (NPS) and Atal Pension Yojana stood at ₹5.56 trillion as on 31 January 2021, posting an year-on-year growth of 36.83%, as per PFRDA data released Tuesday. The combined AUM of both the schemes stood at ₹4.09 trillion on 31 January 2020.
Total subscriber base at the end of January was at 4.05 crore versus 3.33 crore in January 2020 showing a y-o-y increase of 21.63%.
Number of subscribers in various schemes under NPS and APY
"As on 31 January 2021, total pension assets under management stood at ₹5,56,410 crore showing a Y-o-Y growth of 35.94%," the PFRDA data showed.
Total Assets under Management under NPS and APY
As on 23 January 2021, the total number of subscribers under NPS and APY has crossed 4.03 crores and the Assets under Management (AUM) have grown to ₹5,58,727 crores, as per the PFRDA press release. Besides, as per Economic Survey, "Total subscriber base by the end of September was at 3.74 crore, up 22.2% from the year-ago period."
NPS was initially notified for central government employees as of 1 Jan 2004 and subsequently adopted by almost all State Governments for its employees. NPS was later extended to all citizens of India (resident/non-resident/overseas) voluntarily and to corporates for its employees. NPS is compulsory for government employees who joined service after 2004 and it was opened to the private sector in 2009.
NPS is low-cost, allows exposure to equity (up to 75% of the corpus) and is reasonably tax efficient.
Atal Pension Yojana is a periodic contribution-based pension plan and provides a guaranteed pension of ₹1,000-5,000 to subscribers.
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