Total assets managed under NPS and APY, the two flagship pension schemes of the Pension Fund Regulatory and Development Authority (PFRDA), have crossed Rs 6.99 lakh crore, an official statement said on Tuesday.
Total assets under management (AUM) as on January 1, 2022 stood at Rs 6,99,172 crore, PFRDA said.
Total AUM under the National Pension System (NPS) and Atal Pension Yojana (APY) were at Rs 5,78,025 crore as of March 31, 2021.
The pension assets under APY, which mainly caters to the unorganised sector workers, stood at Rs 19,807 crore as of January 1 this year, as per data from PFRDA.
NPS, which mainly caters to organised sector employees, is segmented into central government, state government, corporate sector employees, all citizens model and NPS Lite.
The AUM for state government sector stood at Rs 3,52,217 crore as on January 1, 2022, while that for central government employees was Rs 2,11,656 crore.
The corporate sector AUM was at Rs 82,190 crore, while that for all citizens model was Rs 28,657 crore. For NPS Lite, the AUM was Rs 4,645 crore.
In the NPS Lite category, no fresh registration is permitted from April 1, 2015. NPA Lite was introduced from April 1, 2010 to serve the customers belonging to the economically disadvantaged segment.
However, the NPS Lite or Swavalamban subscribers who are in the age group of 18-40 years have been given option to migrate to the new Atal Pension Yojana (APY) which was launched in May 2015.