Belongings underneath administration of NPS, APY cross Rs 6.99 trn: PFRDA

Complete belongings managed underneath NPS and APY, the 2 flagship pension schemes of the Pension Fund Regulatory and Growth Authority (PFRDA), have crossed Rs 6.99 lakh crore (Rs 6.99 trillion), an official assertion mentioned on Tuesday.

Complete belongings underneath administration (AUM) as on January 1, 2022 stood at Rs 6,99,172 crore, PFRDA mentioned.

Complete AUM underneath the Nationwide Pension System (NPS) and Atal Pension Yojana (APY) had been at Rs 5,78,025 crore as of March 31, 2021.

The pension belongings underneath APY, which primarily caters to the unorganised sector staff, stood at Rs 19,807 crore as of January 1 this yr, as per information from PFRDA.

NPS, which primarily caters to organised sector workers, is segmented into central authorities, state authorities, company sector workers, all residents mannequin and NPS Lite.

The AUM for state authorities sector stood at Rs 3,52,217 crore as on January 1, 2022, whereas that for central authorities workers was Rs 2,11,656 crore.

The company sector AUM was at Rs 82,190 crore, whereas that for all residents mannequin was Rs 28,657 crore. For NPS Lite, the AUM was Rs 4,645 crore.

Within the NPS Lite class, no recent registration is permitted from April 1, 2015. NPA Lite was launched from April 1, 2010 to serve the purchasers belonging to the economically deprived section.

Nevertheless, the NPS Lite or Swavalamban subscribers who’re within the age group of 18-40 years have been given choice to migrate to the brand new Atal Pension Yojana (APY) which was launched in Could 2015.

(Solely the headline and film of this report could have been reworked by the Enterprise Customary employees; the remainder of the content material is auto-generated from a syndicated feed.)

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