AUM under NPS, Atal Pension Yojana crosses Rs 6 lakh crore-mark, says PFRDA

National Pension System (NPS), launched in 2009, mainly caters to organised sector employees including all government employees in centre and states.

The total assets under management (AUM) of the National Pension System and Atal Pension Yojana have crossed Rs 6 lakh crore-mark, regulator Pension Fund Regulatory and Development Authority (PFRDA) said on may 26, Ministry of Finance said in a statement.

As of May 21, 2021, the total number of subscribers under NPS and Atal Pension Yojana has crossed 4.28 crore and the asset under management (AUM) has grown to Rs 603,667.02 crore, the statement said.

With the increase in AUM, the subscribers also grew to over 74.10 lakh from the  government sector and 28.37 lakh from the non-government sector totalling 4.28 crore subscribers.

"We feel immensely gratified at reaching this milestone of Rs 6 trillion AUM, and in less than seven months as we were at Rs 5 trillion in October 2020. The achievement shows the faith subscribers have in NPS and PFRDA. A growing realisation during this pandemic is the priority accorded by individuals to retirement planning, for preserving their financial well being," said Supratim Bandyopadhyay, Chairman, Pension Fund Regulatory and Development Authority (PFRDA).

PFRDA regulates the National Pension System and the Atal Pension Yojana.

National Pension System was initially notified for the central government employees but it is now also subscribed by state government employees and those from the corporate sector whereas Atal Pension Yojana is for the employees working in the unorganised sector.