NPS assets under management rises 27% y-o-y to Rs 7.36 trillion

© Supplied by The Monetary Specific
Overall NPS belongings beneath administration stood at Rs 7.36 trillion as of March 31, 2022, up from Rs 5.78 trillion as on March 31, 2021.

With new enrollments crossing 9.58 million under the National Pension Process (NPS) in FY22, the NPS property under administration rose 27% on yr to Rs 7.36 trillion as of March 31, 2022.

New private personal enrollments (corporate and citizens other than Atal Pension Yojana subscribers) stood at .92 million in FY22 while APY additions were 8.2 million during the calendar year. Whole non-public particular person enrollments rose 33% on yr to 3.7 million in FY22. The APY subscribers rose 29% on year to 36.3 million in FY22.

The Central governing administration employee subscribers grew 4.9% on year to 2.28 million in FY22 whilst point out governments subscribers grew 8.5% to 5.58 million all through the yr. The whole selection of subscribers as of March 31, 2022, was 52 million, up 23% from a year ago. Full NPS belongings beneath management stood at Rs 7.36 trillion as of March 31, 2022, up from Rs 5.78 trillion as on March 31, 2021.

APY is the governing administration-backed, voluntary plan intended to give previous-age cash flow protection in the variety of bare minimum confident pension (ranging from Rs 1,000-5,000/month), in proportion to particular person contributions, even as it is industry-connected. It forms the bulk of the subscriber foundation beneath the fold of the NPS.