The number of subscribers under the major pension schemes of the Pension Fund Regulatory and Development Authority (PFRDA) increased by 24 percent to 4.53 crore in August this year. PFRDA gave this information in a statement on Friday. PFRDA operates two pension schemes- National Pension System and Atal Pension Yojana.
According to the statement, “The number of subscribers under the National Pension Scheme increased by 24.06 percent year-on-year to 453.41 lakh in the month of August this year. At the same time, it was 365.47 lakh in August 2020. According to the data of PFRDA, the number of subscribers under Atal Pension Yojana increased by 33.20 percent to 304.51 lakh on 31 August this year. Total pension assets under management increased by 32.91 per cent to Rs 6,47,621 crore at the end of August 2021 on a year-on-year basis. Out of this, the assets under management under Atal Pension Yojana stood at Rs 18,059 crore, which is 33 percent more than a year ago.
Organized sector employees are linked to NPS
The employees of the organized sector are mainly associated with NPS. This includes employees of central and state government, autonomous bodies, employees of private companies and others. At the same time, the goal of Atal Pension Yojana is to bring the employees working mainly in the unorganized sector under the purview of the pension scheme.
What is Atal Pension Yojana
Atal Pension Yojana was launched by the Government of India in May 2015. All citizens in the age group of 18 to 40 years can become a part of this scheme. Under the scheme, a subscriber is guaranteed a monthly pension of Rs 1,000 to Rs 5,000, depending on his contribution, after attaining the age of 60 years.
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