You are here: Home » Current Affairs » News » National
Business Standard

Number of subscribers under PFRDA pension schemes up 23% to 52.3 mn

The number of subscribers under the two flagship pension schemes of PFRDA increased nearly 23 per cent to over 5.23 crore by April-end 2022.

PFRDA | pension

Press Trust of India  |  New Delhi 

pension, insurance, savings, senior citizen, employment, NPS, PFRDA

The number of subscribers under the two flagship schemes of increased nearly 23 per cent to over 5.23 crore by April-end 2022.

The subscriber base of the two schemes combined was 4.26 crore in April last year, Fund Regulatory and Development Authority (PFRDA) data showed.

The flagship schemes -- System (NPS) and Atal Pension Yojana (APY) -- had total asset under management of Rs 7,38,765 crore at April-end 2022, rising by 25.25 per cent from the year-ago period.

"The number of subscribers in various schemes under NPS rose to 523.87 lakh by end-April 2022 from 426.75 lakh in April 2021 showing a year-on-year increase of 22.76 per cent," it said.

The number of subscribers under APY grew nearly 30 per cent to 3.65 crore by April this year.

The rest 1.58 crore subscribers belonged to various categories under NPS -- the pension scheme which mainly caters to the government sector and corporate sector employees.

APY is mainly targeted towards providing a social security benefit after retirement to those who work in the unorganised sector and form a large chunk of employment in the country.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, May 12 2022. 16:58 IST