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HomeEconomyNational Pension System gets 1.15 cr subscribers

National Pension System gets 1.15 cr subscribers

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New Delhi: The National System (NPS) had 11,459,555 subscribers with a total corpus of Rs 90,327 crore as on 23 January. The total assets under management are worth Rs 1,09,140 crore while assets under management per subscriber are worth Rs 95,000 on an average.

The number of NPS subscribers of the central government are 16,11,020 with a total corpus of Rs 34,754 crore while subscribers from the different State governments are 28,59,094 with a total corpus of Rs 45,486 crore.

The number of NPS subscribers in the corporate sector are 4,48,509 while that in the unorganized sector is 1,28,484, the total being 5,76,993. The number of subscribers under NPS Lite include 44,63,637 and under Atal Yojana (APY) 19,48,811, with a total number of subscribers 64,12,448 in these 2 categories.

The NPS subscribers of the Union government are 14.1% of the total subscribers while that of the State governments are 24.9%. The NPS subscribers under NPS Lite constitute 39% while under APY there are 17% of the total subscribers.

Since the Fund Regulatory and Development Authority (PFRDA) has completed 2 years of its statutory status on 1 February, the PFRDA — in collaboration with all its intermediaries in the NPS including all governments’ nodal offices, POPs, aggregators, central recordkeeping agency and NPS Trust etc — is observing NPS Service Week from 1 to 6 February to mark this occasion.

The week-long campaign is being dedicated to service-orientation towards the subscribers and aimed at awareness building and improved information dissemination. During this service week, besides sharing of information on the range of functionalities and services now available under the NPS, the subscriber community will be apprised of the need for constant updating of information to enable the system to operate at its optimum service level so that the intended benefits can reach all the employees and subscribers under the NPS. Besides, the subscribers will also be able to make the best use of all the opportunities and facilities.

The PFRDA is organizing the 2nd Conclave in the national capital on 4 February with the theme, “Towards Universal Pension: Coverage, Adequacy and Sustainability” in which all the stakeholders are expected to participate and share their experiences.

The PFRDA proposes to use this occasion to acknowledge and award the best performing banks and post offices in mobilization and registration of subscribers under the Atal Yojana (APY) up to 31 December 2015, and institute awards for best performing POPs under the voluntary segment of the NPS.

Earlier, the PFRDA had launched an awareness programme for State autonomous bodies, the unorganized and corporate sectors and other categories in order to highlight the benefits of joining the NPS and has requested the various State governments to implement scheme more inclusively among the State autonomous bodies, boards, corporations, societies, universities and aided institutions under various departments.

During the awareness programme, key features and benefits of the NPS, details and process of joining it, details about the investment and exit guidelines are highlighted.

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