PSBs, RRBs excel in opening APY accounts

Now the government employees will have the facility to register online in NPS and generate PRAN through eNPS:

Supratim Bandyopadhyay explains that 3 mn subscribers in the non-government sector is remarkable as they are voluntary enrolments

The Pension Fund Regulatory and Development Authority (PFRDA) has reached the milestone of 3mn voluntary subscribers under the National Pension System (NPS) over a period of 12 years. The growth in NPS subscribers has been remarkable, with 7.53 mn employees joining the scheme from the government sector (central and state governments) and 3 mn individuals from the non-government sector (all citizen and corporate model). More than 9100 entities or employers have already adopted NPS for its employees. 2.77 mn new subscribers joined the NPS central government, state government, and corporate sector and contributed during September 2017 to June 2021.

PFRDA Chairman Supratim Bandyopadhyay updates: “The achievement of 3 million subscribers in the non-government sector is remarkable as they are voluntary enrolments as compared to government sector. With the current momentum of 50% growth in enrolments over last year, we look forward to add a million new subscribers during the current fiscal, in the non-government sector.”

As on 14th August 2021, the total number of subscribers is 44.80 million and the total assets under management (AUM) are ₹6.37 trillion. The number of subscribers in various schemes under the NPS recorded y/y increase of 23.79% to 44.27 million by end-July 2021. As on 31st July 2021, total pension assets under management stood at ₹6.27 trillion, showing y/y growth of 29.88%.

PRIVATE SUBSCRIBER BASE UP