New Delhi, Sep 17 (SocialNews.XYZ) India's National Pension System (NPS) has reached a subscribers base of 4.53 crore by end-August 2021.
According to the Pension Fund Regulatory and Development Authority (PFRDA), total subscribers in various schemes under NPS rose to 453.41 lakh by end-August 2021 from 365.47 lakh during the corresponding period of 2020, showing a year-on-year increase of 24.06 per cent.
As of August 31, 2021, total pension assets under management stood at Rs 6,47,621 crore showing a Y-o-Y growth of 32.91 per cent.
On an individual scheme basis, there are 75.32 lakh employees under the NPS from the government sector (Central and state governments) while the rest belong to non-government sector (all citizens and corporate model).
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.
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz