PFRDA pension subscriber base rises 24% to 4.53 crore till August
The Pension Fund Regulatory and Development Authority (PFRDA) announced that subscribers to its flagship pension schemes increased by 24% to over 4.53 crore in August this year. The PFRDA is in charge of two pension plans: the National Pension System (NPS) and the Atal Pension Yojana (APY).
“The number of subscribers in various National Pension System (NPS) schemes increased by 24.06 percent year over year to 453.41 lakh by end-August 2021 from 365.47 lakh in August 2020,” the PFRDA said in a statement.
According to PFRDA data, the number of APY subscribers increased by 33.20 percent to 304.51 lakh as of August 31, 2021.
NPS primarily serves the organized sector, including federal and state governments, autonomous bodies, and private enterprises.
The Atal Pension Yojana (APY) is aimed at workers in the unorganized sector, which accounts for the majority of employment in India.