The variety of subscribers under the National Pension Scheme (NPS) and Atal Pension Yojana (APY) elevated 23 per cent to over 6.24 crore as of March 4, the Finance Ministry mentioned on Friday.
Of this, there was over 28 per cent development in APY subscribers and greater than 1 crore new customers had been added.
The whole pension belongings under administration (AUM) under NPS and APY grew 23.45 per cent year-on-year to Rs 8.82 lakh crore as of March 4, 2023.
“The variety of subscribers under varied schemes under the National Pension System (NPS) rose to 624.81 lakh as of March 4th 2023 from 508.47 lakh on March 5, 2022, displaying a year-on-year (y-o-y) enhance of twenty-two.88 per cent,” the ministry mentioned in an announcement.
As of March 31 final yr, the entire variety of NPS subscribers was 5.20 crore.
Of the entire 6.24 crore subscribers presently, 23.86 lakh and 60.72 lakh are central and state authorities workers, respectively. Corporate subscribers stood at 16.63 lakh.
The variety of APY subscribers rose 28.4 per cent to 4.53 crore as of March 4, 2023.
The authorities launched APY on June 1, 2015, to offer social safety to employees, primarily in the unorganised sector. Subscribers of the scheme get a minimal assured pension of Rs 1,000 to Rs 5,000 per 30 days after attaining 60 years of age, relying on their contributions.
However, from October 1, 2022, earnings taxpayers had been barred from enrolling under the APY.
National Pension System (NPS) primarily caters to organised sectors, together with all authorities workers in the centre and states whereas the APY is principally meant for the workers working in the unorganised sector in the nation.
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