PFRDA pension subscribers' base jumps to over 43.5 million at end of June

PFRDA has registered a 24 per cent jump in its subscribers' base under two flagship pension schemes to more than 43.5 millions at the end of June.

PFRDA has registered a 24 per cent jump in its subscribers' base under two flagship pension schemes to more than 4.35 crore at the end of June.

"The number of subscribers in various schemes under the National Pension System (NPS) rose to 435.36 lakh by end-June 2021 from 350.99 lakh in June 2020 showing a year-on-year increase of 24.04 per cent," PFRDA said in a statement on Friday.

The two flagship schemes are APY and NPS.

Out of the total, the number of subscribers under the Atal Pension Yojana (APY) stood at 288.60 lakh as of June 30, an increase of 33.95 per cent from the year-ago period.

The total pension assets under management stood at Rs 6,16,517 crore as on June 30, showing a yearly growth of 32.67 per cent, the Pension Fund Regulatory and Development Authority (PFRDA) said.

The APY, mainly targeting the unorganised sector employees, offers five slabs of pension from Rs 1,000-5,000 per month upon retirement.

NPS is a voluntary defined contribution retirement savings scheme for government employees as well as for those working in the corporate and unorganised sectors.