The Pension Fund Regulatory and Growth Authority (PFRDA) has registered over 23 per cent bounce within the subscriber base underneath its two flagship pension schemes at 4.27 crore by the tip of April this 12 months, knowledge confirmed on Wednesday.
The general subscriber base underneath the 2 schemes –NPS and APY– stood at 3.46 crore by April 2020.
The variety of subscribers in varied schemes rose to 426.75 lakh by end-April 2021 from 346.01 lakh in April 2020 displaying a year-on-year enhance of 23.33 per cent, the Pension Fund Regulatory and Growth Authority (PFRDA) mentioned in a launch.
The variety of subscribers underneath the Atal Pension Yojana (APY) elevated by 33.23 per cent to 2.82 crore as of April 2021.
The belongings underneath administration (AUM) of those two schemes jumped by greater than 36 per cent to Rs 5.90 lakh crore by the tip of first month of the present fiscal 12 months 2021-22. Of this, the AUM of APY scheme moved up by 47.4 per cent to Rs 16,136 crore.
The Nationwide Pension System (NPS) primarily caters to the workers within the organised sector, together with all authorities employees within the centre and states, whereas the APY is principally focused to fulfil the pension wants of these employed within the unorganised sector within the nation.
(Solely the headline and movie of this report could have been reworked by the Enterprise Normal employees; the remainder of the content material is auto-generated from a syndicated feed.)
Expensive Reader,
Enterprise Normal has all the time strived exhausting to supply up-to-date data and commentary on developments which can be of curiosity to you and have wider political and financial implications for the nation and the world. Your encouragement and fixed suggestions on tips on how to enhance our providing have solely made our resolve and dedication to those beliefs stronger. Even throughout these tough instances arising out of Covid-19, we proceed to stay dedicated to conserving you knowledgeable and up to date with credible information, authoritative views and incisive commentary on topical problems with relevance.
We, nonetheless, have a request.
As we battle the financial impression of the pandemic, we want your assist much more, in order that we are able to proceed to give you extra high quality content material. Our subscription mannequin has seen an encouraging response from lots of you, who’ve subscribed to our on-line content material. Extra subscription to our on-line content material can solely assist us obtain the targets of providing you even higher and extra related content material. We consider in free, truthful and credible journalism. Your assist by way of extra subscriptions might help us practise the journalism to which we’re dedicated.
Help high quality journalism and subscribe to Enterprise Normal.
Digital Editor
https://www.business-standard.com/article/pf/pfrda-subscriber-base-jumps-over-23-to-42-7-million-by-april-2021-121051900813_1.html
