Pension Seva – People Investing Heavily In Nps, Apy, Pfrda Assessments Exceed 6 Trillion! – PFRDA’s total assets under management, which oversees the management of retirement funds, has crossed Rs 6 trillion or Rs 6,000 billion. NPS and APY have an outsized contribution of many customers during this .
1,000 billion assets increased in only 7 months during Corona
The PUMDA’s AUM in October 2020 was Rs 5,000 billion. It crossed the figure of Rs 6,000 billion on 21 May 2021. This achievement of the PFRDA within the Corona period may be a big thing in itself. a rise of about Rs 1,000 billion in its AUM has been recorded in only 7 months.
Pension Seva – People Investing Heavily In Nps, Apy, Pfrda Assessments Exceed 6 Trillion!
In this regard, PFRDA chairman Supratim Bandhopadhyay said, “This achievement shows the arrogance of the people within the NPS and PFRDA.” During the Corona era, people have understood the importance of old-age pension and that they are now giving priority to its planning. ‘
According to PIB news, PFRDA says that within the previous couple of years, the amount of subscribers of NPS has seen a rapid increase. As of 21 May 2021, 74.10 lakh government employees and 28.37 lakh non-government people have subscribed for the NPS. the company world also has 11.53 lakh subscribers within the NPS.
Subscriber adopting NPS has the power to save lots of tax on additional savings of Rs 50,000 annually within the old tax system. this is often different from the Section 1.5C exemption of 1.5 lakh rupees. In such a situation, this will even be a reason for increasing the subscriber of NPS.
APY’s Crores of consumers
APY was brought mainly to supply benefits of pension facility to the people, individuals and customary citizens working within the unorganized sector. a complete of two .82 crore people have subscribed for this scheme thus far . As of 21 May 2021, the entire number of subscribers of NPS and APY has increased to 4.28 crores. during this way, the entire AUM of PFRDA has been Rs 603,667.02 crore.
PFRDA is an autonomous body which regulates and promotes NPS within the country. aside from this, the management of other pension schemes is additionally taken care of . the govt implemented the NPS from 1 January 2004. Initially it had been for central employees but later it had been also extended to employees, individuals and company employees of state governments.