The Pension Fund Regulatory and Development Authority (PFRDA) has touched 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, Ministry of Finance announced in a press release.
The AUM growth of the last Rs 1 lakh crore has been accomplished in just seven months.
PFRDA has had high 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 is close to 4.28 crore.
Supratim Bandyopadhyay, Chairman, PFRDA, said, “We feel immensely gratified at reaching this milestone of Rs 6 trillion AUM, and in less than seven months as we were at Rs 5 trillion in October 2020. The achievement shows the faith subscribers have in NPS and PFRDA. A growing realisation during this pandemic is the priority accorded by individuals to retirement planning for preserving their financial well being.”
As of 21 May 2021, AUM has grown to Rs 603,667.02 crore.