The Pension Fund Regulatory and Development Authority of India (PFRDA) has reported a 23 percent increase in its subscriber base as of the end of March 31, 2021 under major NPS and APY schemes. Information was given about this on Thursday.
Significantly, the previous year was a very challenging year due to COVID-19 restrictions, but the number of subscribers still increased by almost 23 percent, PFRDA President Supratim Bandyopadhyay said in a conference call.
He said that the subscribers of Atal Pension Yojana (APY) have increased by almost 33 percent and more than 77 lakh new customers have been added. As of 31 March 2021, APY subscribers were more than 28 million. Total assets under management (AUM) increased by 38 percent to Rs 5.78 lakh crore.
The National Pension System (NPS) is mainly for the organized sectors including all government employees in the Center and the States, while APY is mainly for the employees working in the unorganized sector in the country.