Number of National Pension Scheme, Atal Pension Yojna subscribers crosses 1 crore mark: FinMin

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New Delhi | October 08, 2015 8:41 PM

The number of subscribers under National Pension Scheme and Atal Pension Yojna has crossed one crore mark while total assets under management have soared to Rs 1 lakh crore.

atal pension yojanaThe number of subscribers under National Pension Scheme and Atal Pension Yojna has crossed one crore mark while total assets under management have soared to Rs 1 lakh crore.

The number of subscribers under National Pension Scheme and Atal Pension Yojna has crossed one crore mark while total assets under management have soared to Rs 1 lakh crore.

“Currently, NPS (Rs 1,00,163 crore) and Atal Pension Yojana (Rs 112 crore) together have more than one crore subscribers with total assets under management (AUM) of Rs 1,00,275 crore,” the Finance Ministry said in a statement.

NPS has been implemented for all government employees (except armed forces) joining central government on or after January 1, 2004.

Most of the State/UT Governments have also notified the National Pension System (NPS) for their new employees.

NPS has been made available to every Indian citizen from May 1, 2009 on a voluntary basis.

Further, from June 1 2015, the Atal Pension Yojana has been launched which has given the much required impetus to the social security schemes.

Pension Fund Regulatory and Development Authority (PFRDA) has taken various steps at the policy as well as operational levels to make NPS more subscriber friendly.

“The investment guidelines for NPS have been revised to expand the investment avenues for optimisation of the returns,” the statement said.

The statement further said APY scheme provides minimum guaranteed monthly pension to subscribers ranging from Rs 1,000 to Rs 5,000.

Further, the government also co-contributes 50 per cent of the total contribution made by a subscriber during a financial year subject to maximum of Rs 1,000 per annum for a period of five years, if eligible subscribers open the account by December 31, 2015.

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