Business Economy


Assets under Management of NPS and APY cross Rs 16 lakh crore

New Delhi, Oct 9 (UNI) The combined assets under management (AUM) of the National Pension System (NPS) and Atal Pension Yojana (APY) have crossed the Rs 16 lakh crore mark today, an official statement said.
It marks an important milestone in India's Pension journey as the subscriber base has also widened to surpass 9 crores.
Pension Fund Regulatory and Development Authority (PFRDA) has introduced key initiatives to strengthen NPS and widen Pension Inclusion.
It includes the Multiple Scheme Framework (MSF) effective from October 1 which offers greater investment choice. The statement said, "Adding to it is the NPS Platform Workers Model covering gig workers and a Consultation Paper on NPS Overhaul proposing graded payouts and flexible annuity options to enhance retirement adequacy."
Further, the targeted outreach drive aims at expanding coverage among farmers, MSME workers, SHG members and other informal sector participants.
It reflects PFRDA's continued focus on inclusion, flexibility and long-term financial security.
UNI SAS RN
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