NPS’ non-govt subscriber base crosses 30 lakh-mark; corpus to hit Rs 1 lakh cr soon: PFRDA
According to PFRDA Chairman Supratim Bandyopadhyay, the corporate and retail sector subscriber base under the National Pension System (NPS) has crossed over 30 lakh as of today, and the corpus under these is poised to approach a significant Rs 1 lakh crore level.
The central government, state government, corporate, all citizen model, and NPS Lite are the five categories of NPS subscriber data. Retail customers are referred to as the “all citizen model.”
People in the government sector must participate in NPS; however, people in the retail industry can choose whether or not to participate. And, according to the chairman of the Pension Fund Regulatory and Development Authority (PFRDA), the number of persons entering this category is increasing.
“The corporate and retail segments have a combined corpus of about Rs 97,000 crore. As a result, it is approaching the historic milestone of Rs 1 lakh crore, ” Bandyopadhyay said.