A healthy rise in corporate sector subscribers took the overall subscription base of various pension schemes regulated by the PFRDA to reach 463 lakh as of September-end 2021.
According to the Pension Fund Regulatory and Development Authority (PFRDA), the number of subscribers in various pension schemes rose to 463 lakh, as of September 2021, from 374.33 lakh reported for September 2020, showing a year-on-year (YoY) growth of 23.69 per cent.
Besides, the PFRDA data showed a YoY rise of 20.97 per cent in corporate sector subscribers to 12.65 lakh as of last month, from 10.46 lakh reported for September 2020.
Furthermore, the All Citizen Sector category subscription rose to 35.31 per cent to 18.38 lakh.
“The assets under management (AUM) in various pension schemes regulated by the PFRDA rose to Rs 667,379 crore as on September 30, 2021 against Rs 494,930 crore at the end of September 2020, showing a YoY growth of 34.84 per cent,” the PFRDA said.
The NPS was initially notified for Central government employees recruits from January 1, 2004 and subsequently adopted by almost all state governments for their employees.
It was later extended to all Indian citizens and to corporates for their employees.