NPS, APY subscribers rise 23% in FY23; over 1 cr customers added under Atal Pension Yojana
The Hindu
As of March 31 last year, the total number of NPS subscribers was 5.20 crore APY subscribers rose to 4.53 crore as of March 4, 2023.
The number of subscribers under the National Pension Scheme (NPS) and Atal Pension Yojana (APY) increased 23 per cent to over 6.24 crore as of March 4, the Finance Ministry said on Friday.
Of this, there was over 28 per cent growth in APY subscribers and more than 1 crore new customers were added. The total pension assets under management (AUM) under NPS and APY grew 23.45 per cent year-on-year to ₹8.82 lakh crore as of March 4, 2023.
"The number of subscribers under various schemes under the National Pension System (NPS) rose to 624.81 lakh as of March 4th 2023 from 508.47 lakh on March 5, 2022, showing a year-on-year (y-o-y) increase of 22.88 per cent," the ministry said in a statement.
As of March 31 last year, the total number of NPS subscribers was 5.20 crore.
Of the total 6.24 crore subscribers currently, 23.86 lakh and 60.72 lakh are central and state government employees, respectively. Corporate subscribers stood at 16.63 lakh.
The number of APY subscribers rose 28.4 per cent to 4.53 crore as of March 4, 2023.
The government introduced APY on June 1, 2015, to provide social security to workers, mainly in the unorganised sector. Subscribers of the scheme get a minimum guaranteed pension of ₹1,000 to ₹5,000 per month after attaining 60 years of age, depending on their contributions.
In 2021, five women from Mayithara, four of them MGNREGA (Mahatma Gandhi National Rural Employment Guarantee Act) workers, found a common ground in their desire to create a sustainable livelihood by growing vegetables. Rajamma M., Mary Varkey, Valsala L., Elisho S., and Praseeda Sumesh, aged between 70 and 39, pooled their savings, rented a piece of land and began their collective vegetable farming journey under the Deepam Krishi group.