PFRDA pension subscriber base increases by 24% to Rs 4.53 crore till Aug 2021

In August 2021, the subscriber base under the flagship pensions schemes of Pension Fund Regulatory and Development Authority (PFRDA), increased by 24% this year to over Rs 4.53 crores. The National Pension System (NPS) and Atal Pension Yojana (APY) are the two pension schemes administered by the PFRDA. The NPS mainly caters to the organised sector which includes government employees, private corporations and autonomous bodies. While APY is for workers of unorganised sectors.

According to a release from PFRDA, the number of subscribers in various schemes under NPS had increased to 453.61 lakh by August end 2021 from 365.47 lakh in August 2020, showing a YoY rise of 24.06%.

The data showed that the number of subscribers grew by 33.20% to 304.51 lakh as of August 31,2021, under APY.

It added that total pension assets under management were at Rs 6,47,621 crore, showing a YoY growth of 32.91%.

Under this, assets under APY was at Rs 18,059 crore, this is a growth of nearly 33% as compared to a year ago.