PFRDA logs 23% growth in subscriber base under NPS, APY

NEW DELHI: Pension Fund Regulatory and Development Authority of India (PFRDA) has registered 23 per cent growth in its subscriber base under the flagship NPS and APY schemes to over 4.24 crore by end of March 31, 2021, the regulator said on Thursday.

The last year was an extremely challenging year because of COVID-19 restrictions, but still there has been growth of around 23 per cent in the subscriber numbers, PFRDA Chairman Supratim Bandyopadhyay told reporters in a virtual conference, sharing the numbers.

Of this, there was almost 33 per cent growth in Atal Pension Yojana (APY) subscribers and more than 77 lakh new customers were added, he added.

The APY subscribers as of March 31, 2021, were more than 2.8 crore.

The total assets under management (AUM) witnessed a growth of 38 per cent to over Rs 5.78 lakh crore by the end of FY21, he said.

National Pension System (NPS) mainly caters to organised sectors including all government employees in centre and states, while the APY is mainly meant for the employees working in the unorganised sector in the country.