PFRDA pension scheme
subscribers up 24% to 53.2 million by May end
under the two flagship pension schemes administered by PFRDA rose by over 24
per cent from a year ago to 5.32 crore as of May 31, 2022, official data showed
number of subscribers in various schemes under the National Pension System
(NPS) rose to 531.73 lakh by the end-May 2022 from 428.56 lakh in May 2021
showing a year-on-year increase of 24.07 per cent," the Pension Fund
Regulatory and Development Authority (PFRDA) said in a release.
Pension Yojana (APY) -- the highest contributor to the subscriber base --
registered a growth of 31.6 per cent to 3.72 crore by end of May this fiscal
number of subscribers under NPS for central government employees rose by 5.28
per cent to 22.97 lakh, while that for state governments grew by 7.70 per cent
to 56.40 lakh.
the corporate sector, the number of NPS subscribers increased by 26.83 per cent
to 14.69 lakh, while that for the all citizens category jumped by 39.11 per
cent to 23.61 lakh by the end of May, the data showed.
the NPS Lite category, wherein no fresh registration is permitted from April
2015, the subscribers fell by 2.7 per cent to 41.85 lakh.
total assets under management (AUM) under the two schemes grew by 21.5 per cent
to cross Rs 7.38 lakh crore as of May 31, 2022.
AUM under APY stood at Rs 21,142 crore, while the NPS accounted for the
remaining Rs 7,17,172 crore.
is mainly targeted towards providing social security benefit after retirement
to those who work in the unorganised sector and form a large chunk of
employment in the country.