Assets beneath NPS bounce 28% YoY until Feb 2022: PFRDA

The property beneath administration (AUM) of National Pension System (NPS) and Atal Pension Yojana (APY) surged 28% year-on-year as of 28 February to the touch ₹7.17 lakh-crore. On the identical day final 12 months, the mixed AUM stood at ₹5.59 lakh-crore, in response to the Pension Fund Regulatory and Development Authority (PFRDA).

The variety of subscribers in numerous schemes beneath the NPS rose to 507.23 lakh by end-February 2022 from 414.70 lakh in February 2021 displaying a year- on- 12 months (Y-o-Y) enhance of twenty-two.31%.

NPS scheme is a low-cost funding avenue. It supplies as much as 75% publicity to fairness of the corpus invested and is rationally tax environment friendly.

Status of NPS subscribers (as on 28 February 2022)

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Source: PFRDA

According to PFRDA, the overall pension property beneath administration stood at ₹7,17,467 crore displaying a Y-o-Y progress of 28.21%

Total Assets beneath Management beneath NPS and APY

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Source: PFRDA

In January 2004, the federal government had initially launched the NPS scheme for central authorities staff. After that the NPS scheme was prolonged to all residents of India (resident/non-resident/abroad) voluntarily and personal employers for its staff. All the state governments accepted it for his or her staff. For the personal sector, the scheme was opened in 2009.

Besides, you can too spend money on the APY scheme. It is a periodic contribution-based pension product and supplies a particular pension of ₹1,000-5,000 to subscribers.

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