The NPS industry has witnessed a growth of Rs.1 lakh crore in its AUM to reach Rs.6.04 lakh crore, said a press release issued by the ministry of finance.
NPS has an AUM of Rs 5.87 lakh crore, which is 97% of the combined AUM of the total NPS industry. The rest 3% or Rs 16,570 crore belongs to Atal Pension Scheme.
Half of the NPS AUM belongs to state governments. The central government is at the second spot with 32% share.
According to the finance ministry release, the subscriber base of all schemes under PFRDA has increased to 4.28 crore. This includes NPS accounts of 74.10 lakh government employees and 28.37 lakh individuals from non-government sector.
“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,” said PFRDA chairman Supratim Bandyopadhyay.
NPS took eight years to reach the 1-lakh crore mark, as per the data shared by PFRDA. The next 5 lakh crore came in five years.
*AUM figures are in Rs crore
**Source: PFRDA
