Subscribers beneath PFRDA schemes enhance 22 % to five.07 crore in Feb

The variety of subscribers beneath two flagship pension schemes by PFRDA jumped 22 % year-on-year to greater than 5.07 crore by the top of February, based on knowledge from the Pension Fund Regulatory and Growth Authority (PFRDA).

“The number of subscribers in various schemes under the national pension system (NPS) rose to 507.23 lakh by the end of February 2022, from 414.70 lakh in February 2021, showing a year-on-year increase of 22.31 percent,” the PFRDA mentioned in an announcement on Thursday.

The full property beneath administration (AUM) of the 2 schemes — NPS and the Atal Pension Yojana (APY) — rose 28.21 % to Rs 7,17,467 crore.

In a break-up, the PFRDA mentioned the central authorities workers beneath NPS witnessed almost 5 per cent yearly development within the subscriber base to 22.75 lakh on the finish of February 2022. State authorities workers’ rely beneath the scheme rose by 9.22 % to 55.44 lakh.

Within the company sector, NPS’ subscription base jumped 25 % to 13.80 lakh and within the all-citizen mannequin of the scheme, there was a spurt of 37.70 % to 21.33 lakh.

The variety of workers availing pension profit beneath the NPS Lite mannequin stood at 41.88 lakh by the top of February 2022. 

On this class, no contemporary registration is permitted from April 1, 2015. NPA Lite was launched from April 1, 2010, to serve clients belonging to the economically deprived section.

The APY registered over 29 % leap in subscription to three.52 crore by February-end, confirmed the information from the PFRDA.

NPS and APY are the 2 pension schemes administered by the PFRDA. NPS, which primarily caters to organised sector workers, is segmented into central authorities, state authorities, company sector workers, all-citizens mannequin and NPS Lite. 

APY primarily caters to the unorganised sector employees for his or her pension wants.

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