Fresh National Pension System subscriptions by govt employees fall in FY21

By: |
March 18, 2021 1:00 AM

Similarly, from the state government sector, only 3.22 lakh new subscribers joined the NPS in the April-February period of the current fiscal. This works out to a monthly average of 26,833 compared to 36,045 in the entire FY20.

This works out to a monthly average of 6,000 against 9,784 in 2019-20. However, in FY19, the monthly average addition of the central government sector subscribers was 5,241.This works out to a monthly average of 6,000 against 9,784 in 2019-20. However, in FY19, the monthly average addition of the central government sector subscribers was 5,241.

The pace of fresh government sector subscriptions under the National Pension System (NPS) has fallen sharply so far in 2020-21, possibly a fallout of the damage caused by the Covid-19 pandemic.

According to the PFRDA data, only 66,000 subscribers from the central government sector joined the NPS between April 2020 and February 2021. This works out to a monthly average of 6,000 against 9,784 in 2019-20. However, in FY19, the monthly average addition of the central government sector subscribers was 5,241.

Similarly, from the state government sector, only 3.22 lakh new subscribers joined the NPS in the April-February period of the current fiscal. This works out to a monthly average of 26,833 compared to 36,045 in the entire FY20.

However, the total number of subscribers in various schemes under the NPS, as of February 2021, stood at 414.70 lakh, recording a 21.85% rise from a year before. At the end of March 2020, NPS had 345.55 lakh subscribers in which subscribers under the Atal Pension Yojana (APY) had the largest share, with 211.42 lakh subscribers.

As on February 20, 2021, the asset under management (AUM) under NPS and APY has grown to `5,64,942 crores, the PFRDA said in a statement.

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