There are more than 6.62 crore subscribers under National Pension System (NPS) and Atal Pension Yojana (APY)
- Press Information Bureau
- September 4, 2023
More than 6.62 crore people have now subscribed to the National Pension System (NPS) and the Atal Pension Yojana (APY), and the total asset under management (AUM) has surpassed Rs. 10 lakh crore (US$ 120 billion).
As of August 25, 2023, the State Government had the major share in AUM of Rs. 4,35,071.72 (US$ 5,259.79), followed by the Central Government of Rs. 2,40,902.87 (US$ 2,912.4).
The Pension Fund Regulatory and Development Authority (PFRDA) regularly implements a number of initiatives to enhance financial education, empowering subscribers to make well-informed decisions and take advantage of the benefits of the formal financial sector while maintaining a clear understanding of associated risks and trade-offs.
For all government employees (with the exception of the armed forces) who join the Central Government on or after January 1, 2004, the National Pension System (NPS) has been established. Additionally, the Atal Pension Yojana, which was introduced on June 1, 2015, gave the social security programmes a much-needed boost.
PFRDA annually observes October 1 as "National Pension System Diwas (NPS Diwas)" in an effort to advance pension and retirement planning. The financial independence of Indian citizens in their post-retirement years is aided by this effort.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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