PFRDA: Subscribers to PFRDA pension schemes increase by 24 to over 5.32 cr at the end of May’22

New Delhi: Subscribers under the two flagships pension schemes administered by PFRDA increased by more than 24 percent from a year ago to 5.32 kroner as of May 31, 2022, official data on Monday showed. “The number of subscribers in various schemes under the National Pension System (NPS) increased to LVL 531.73 by the end of May 2022 from LVL 428.56 in May 2021, indicating an increase of 24.07 per cent on an annual basis, ”the Regulatory and Development Authority said in a statement. pension funds (PFRDA).

Atal Pension Jozana (APY) – with the largest contribution to the subscriber base – registered an increase of 31.6% to 3.72 million by the end of May this fiscal year.

The number of NPS subscribers for central government employees increased by 5.28% to 22.97 lakh, while that for state governments increased by 7.70% to 56.40 lakh.

For the corporate sector, the number of NPS subscribers increased by 26.83 percent to 14.69 lakh, while for the category of all citizens it jumped by 39.11 percent to 23.61 lakh by the end of May, the data show.

In the NPS Lite category, where no new registration has been allowed since April 2015, subscribers fell 2.7% to 41.85 lakh.

Total assets under management (AUM) under both schemes increased by 21.5 percent to exceed 7.38 lakh crore rupees as of May 31, 2022.

APY’s AUM was Rs 21,142 crore, while NPS was the remaining 7,17,172 crore.

APY is mainly aimed at providing social security benefits after retirement to those who work in the unorganized sector and form a large part of employment in the country.