NPS, Atal Pension Yojana subscribers rise by 21.67%, pension assets jump 36.83% in December
The number of subscribers under the National Pension System and Atal Pension Yojana increased by 21.67 percent to 397.70 lakh ending December 31, 2020, as against 326.86 lakh in December 2019.
January 13, 2021 / 18:17 IST
The number of subscribers under the National Pension System (NPS) and Atal Pension Yojana (APY) increased by 21.67 percent to 397.70 lakh ending December 31, 2020, as against 326.86 lakh in December 2019, according to Pension Fund Regulatory and Development Authority (PFRDA) data. Likewise, net pension assets under management of the schemes were reported at Rs 5,48,913 crore in December 2020, showing 36.83 percent year-on-year growth.The NPS is a voluntary, defined contribution retirement savings scheme, aimed to encourage the habit of savings post retirement among citizens. The APY guarantees a minimum monthly pension to its subscribers after the age of 60 years. In October 2020, the PFRDA had announced that the Assets Under Management crossed Rs 5 lakh crore mark. “The subscriber’s contributions under the National Pension System and Atal Pension Yojana have jointly contributed to this landmark figure, over a period of 12 years,” it said.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
