The Pension Fund Regulatory and Development Authority (PFRDA) on May 26 announced crossing the milestone of Rs 6 lakh crore (Rs 6 trillion) of Assets Under Management (AUM) under the National Pension System (NPS) and Atal Pension Yojana (APY), after 13 years.
- The AUM growth of last Rs 1 trillion has been achieved in just 7 months.
- PFRDA has witnessed growth in NPS subscribers over the years with 74.10 lakh government employees in the scheme and 28.37 lakh individuals joining from the non-government sector.
- The total subscriber base of PFRDA has increased to 4.28 crore.
About Pension Fund Regulatory and Development Authority (PFRDA)
- Pension Fund Regulatory and Development Authority (PFRDA) is the statutory authority established by an enactment of the Parliament, to regulate, promote and ensure orderly growth of the National Pension System (NPS) and pension schemes to which this Act applies.
- NPS was initially notified for central government employees recruits w.e.f. 1st January 2004 and subsequently adopted by almost all State Governments for its employees.
- NPS was extended to all Indian citizens (resident/non-resident/overseas) on a voluntary basis and to corporates for its employees.
