2.5 crores subscribers enrolled underneath Atal Pension Yojana: PFRDA

Pension Fund Regulatory and Advancement Authority (PFRDA) these days claimed that a complete of 2.5 crores subscribers are enrolled under the Atal Pension Yojana(APY) scheme.

PFRDA also declared the crossing of 5 lakh crore Property Below Administration (AUM) mark. The subscriber’s contributions less than the Nationwide Pension System (NPS) and Atal Pension Yojana (APY) have jointly contributed to this landmark figure, in excess of a period of 12 years.

In a assertion issued by the PFRDA, it mentioned ” The expansion in NPS subscribers has also been outstanding over the years with 70.40 lakhs employees becoming a member of the scheme from the authorities sector and 24.24 lakhs from the non-federal government sector.”

It further more added that,”In its endeavor to make the subscriber registration, the exit process and processing other assistance requests seamless and subscriber friendly, has been regularly introducing new methods of subscriber authentication this kind of as OTP/ eSign dependent onboarding, Offline Aadhaar-based mostly onboarding, third party onboarding immediately after KYC verification, e-nomination, e-exit for NPS Subscribers and many others.”

Shri Supratim Bandyopadhyay, Chairman, Pension Fund Regulatory and Progress Authority (PFRDA), stated that reaching 5 lakh crore AUM is a main achievement which reflects the subscribers have religion in PFRDA and NPS.

He also extra that,” A sturdy and exclusive architecture with economical programs and experienced fund professionals providing market place based returns enabling our subscriber to accumulate their retirement corpus. In the course of this pandemic, a developing realisation of each corporates and people today has emerged that retirement organizing is not a mere preserving or tax profit preference, witnessed by NPS enrolment escalating just about 14% all through this demanding time period.”

As on 10 Oct, the complete amount of subscribers beneath NPS and Atal Pension Yojana has crossed 3.76 crores and the Asset beneath Administration (AUM) has developed to 5,05,424 crores.

PFRDA has been often introducing new procedures of subscriber authentication these as OTP/ eSign based onboarding, offline Aadhaar-primarily based becoming a member of, 3rd occasion onboarding after KYC verification, e-nomination, e-exit for NPS subscribers, amongst other individuals.

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