Assets Under Management (AUM) under NPS and APY cross Rs.10 lakh crore
The number of subscribers under the National Pension System (NPS) and Atal Pension Yojana (APY) together have grown to more than 6.62 crore and the total Asset Under Management (AUM) has reached Rs.10 lakh crore (Rs.10,00,000 crore).
The segment-wise status of the NPS and APY in terms of AUM as on August 25, 2023, was as follows:
Central government AUM was Rs.2,40,902, for central autonomous bodies (CAB) it was Rs.42,246, in the case of state governments it was Rs.4,36,071, while for state autonomous bodies it stood at Rs.63,133.
For corporates, it was Rs.1,35,218, for all citizen model the AUM was Rs.47,663, for NPS Lite it was Rs.5,157 and for Atal Pension Scheme the AUM was Rs.30,051.
NPS has been implemented for all government employees (except armed forces) joining central government services on or after January 1, 2004.
Most of the state governments have also notified the NPS of their new employees.
NPS has been made available to every Indian citizen from May 1, 2009, on a voluntary basis.
Further, from June 1, 2015, the Atal Pension Yojana, has been launched which has given the much-required impetus to the social security schemes.
In pursuit of the objective to promote pension and retirement planning, PFRDA annually celebrates October 1 as “National Pension System Diwas (NPS Diwas)”.
This initiative contributes to the financial self-sufficiency of Indian citizens in their post-retirement phase.
In observance of NPS Diwas this year, PFRDA has planned a month-long sequence of digital media and publicity initiatives, official sources said.
These endeavours are strategically designed to commemorate NPS Diwas and effectively communicate the importance of pension planning to the subscribers as well as to the general public.
[With Inputs from IANS]
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