Assets underneath NPS rose to 33.09% YoY until February 2021: PFRDA

Combined belongings underneath administration (AUM) of the National Pension System (NPS) and Atal Pension Yojana elevated to 33.09% year-on-year (y-o-y) to the touch ₹5.59 trillion as of February 2021. On the identical day in 2020, the mixed AUM of each the schemes stood at ₹4.20 trillion. The whole subscriber base as of the tip of February 2021 was at 4.14 crore, up from 3.40 crore in February 2020 exhibiting a year-on-year (y-o-y) improve of 21.85%. Also Read | Inside the mad scramble to adjust to the brand new labour codes Number of subscribers in varied schemes underneath NPS and APY

View Full PictureCombined subscriber base noticed a 21.85% rise y-o-y in February 2021.

Besides, the Pension Fund Regulatory and Development Authority (PFRDA) press launch issued at this time mentioned, “As on 28 February 2021, total pension assets under management stood at ₹5,59,594 crore showing a Y-o-Y growth of 33.09%.” Total Assets underneath Management underneath NPS and APY

View Full PictureCombined subscriber base noticed a 21.85% rise y-o-y in February 2021.

Last month, as of 31 January 2021, the mixed AUM of the NPS and APY elevated to 36% year-on-year, the place it touched ₹5.56 trillion whereas evaluating it with the mixed AUM of each the schemes on the identical day of the final 12 months ( 31 January 2020), which stood at ₹4.09 trillion. Also, the entire subscriber base as of the tip of January was at 4.05 crore from 3.33 crore in January 2020 exhibiting a year- on- 12 months (Y-o-Y) improve of 21.63%. NPS was initially notified for central authorities workers as of 1 Jan 2004 and subsequently adopted by nearly all State Governments for its workers. NPS was later prolonged to all residents of India (resident/non-resident/abroad) voluntarily and to corporates for its workers. NPS is obligatory for presidency workers who joined service after 2004 and it was opened to the non-public sector in 2009. NPS is low-cost, permits publicity to fairness (as much as 75% of the corpus) and within reason tax environment friendly. Atal Pension Yojana is a periodic contribution-based pension plan and supplies a assured pension of ₹1,000-5,000 to subscribers. Subscribe to Mint Newsletters * Enter a legitimate electronic mail * Thank you for subscribing to our publication.