PFRDA subscriber base jumps over 23% to 42.7 million by April 2021

The Pension Fund Regulatory and Development Authority has registered over 23% jump in the subscriber base under its two flagship pension schemes at 42.7 mn by the end of April 2021

The Pension Fund Regulatory and Development Authority (PFRDA) has registered over 23 per cent jump in the subscriber base under its two flagship pension schemes at 4.27 crore by the end of April this year, data showed on Wednesday.

The overall subscriber base under the two schemes --NPS and APY-- stood at 3.46 crore by April 2020.

The number of subscribers in various schemes rose to 426.75 lakh by end-April 2021 from 346.01 lakh in April 2020 showing a year-on-year increase of 23.33 per cent, the Pension Fund Regulatory and Development Authority (PFRDA) said in a release.

The number of subscribers under the Atal Pension Yojana (APY) increased by 33.23 per cent to 2.82 crore as of April 2021.

The assets under management (AUM) of these two schemes jumped by more than 36 per cent to Rs 5.90 lakh crore by the end of first month of the current fiscal year 2021-22. Of this, the AUM of APY scheme moved up by 47.4 per cent to Rs 16,136 crore.

The National Pension System (NPS) mainly caters to the employees in the organised sector, including all government staff in the centre and states, while the APY is mainly targeted to fulfil the pension needs of those employed in the unorganised sector in the country.