Assets Under Management Under NPS, Atal Pension Yojana cross 6 lakh crore

The Pension Fund Regulatory and Development Authority (PFRDA) on Wednesday announced crossing the milestone of Rs 6 lakh crore (Rs 6 trillion) of Assets Under Management (AUM) under the National Pension System (NPS) and Atal Pension Yojana (APY), after 13 years.

According to the Finance Ministry, 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 ad of May 21.

"The AUM growth of last Rs 1 trillion has been achieved in just 7 months," said an official statement.

PFRDA has witnessed remarkable growth in NPS subscribers over the years with 74.10 lakh government employees in the scheme and 28.37 lakh individuals joining from the non-government sector, the ministry said adding that the total subscriber base of PFRDA has increased to 4.28 crore.

Supratim Bandyopadhyay, Chairman, Pension Fund Regulatory and Development Authority (PFRDA), said, "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."

( With inputs from ANI )

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