Number Of Subscribers, Under PFRDA Pension Schemes Up 23 Pc To 5.23 Cr

The number of subscribers under the two flagship pension schemes of PFRDA increased nearly 23 per cent to over 5.23 crore by April-end 2022. The subscriber base of the two schemes combined was 4.26 crore in April last year, Pension Fund Regulatory and Development Authority (PFRDA) data showed.

The flagship schemes -- National Pension System (NPS) and Atal Pension Yojana (APY) -- had total asset under management of Rs 7,38,765 crore at April-end 2022, rising by 25.25 per cent from the year-ago period. "The number of subscribers in various schemes under NPS rose to 523.87 lakh by end-April 2022 from 426.75 lakh in April 2021 showing a year-on-year increase of 22.76 per cent," it said.

The number of subscribers under APY grew nearly 30 per cent to 3.65 crore by April this year. The rest 1.58 crore subscribers belonged to various categories under NPS -- the pension scheme which mainly caters to the government sector and corporate sector employees. APY is mainly targeted towards providing a social security benefit after retirement to those who work in the unorganised sector and form a large chunk of employment in the country.