The total enrollments under various schemes under National Pension System (NPS) and Atal Pension Yojana (APY) have crossed 1.35 crore during financial year 2022-23, Pension Fund Regulatory and Development Authority (PFRDA) said in a statement on Thursday. With cumulative enrollment of over 10 lakh subscribers, NPS private sector- comprising NPS All Citizen and NPS Corporate- accounted for about 60 percent, the fund regulator said.
The number of subscriber enrollments under Atal Pension Yojana (APY) was 119.31 lakh, it said.
Here are the number of subscriber enrollments in various schemes under National Pension System and Atal Pension Yojana (in Lakh):
| Sector | Enrolments during FY 2022-23 (period 01/Apr/22 to 31/Mar/23) |
| Central Govt. (Incl. CAB) | 1,28,337 |
| State Govt. (Incl. SAB) | 5,34817 |
| Corporate | 1,53,651 |
| All Citizen of India | 8,46587 |
| APY | 1,19,31,385 |
| Total | 1,35,94,777 |
NPS is a government-run investment scheme that gives the subscriber the option to set the preferred allocation to different asset classes.
NPS offers two kinds of accounts — Tier 1 and Tier 2 — for instruments including government bonds, equity market, and corporate debt. While the Tier 1 NPS account is strictly a pension account, the Tier 2 account — known as an investment account — is voluntary savings account associated with the Pension Regulatory Authority of India (PRAN).
APY, on the other hand, is a guaranteed pension scheme for Indians that focuses primarily on those working in the unorganised sector. Under this, an investor receives a minimum guaranteed pension of Rs 1,000 to Rs 5,000 per month from the age of 60 years, depending upon his/her contribution.
The same pension is paid to the subscriber's spouse after the subscriber's demise, and on the demise of both the subscriber and spouse, the pension wealth accumulated till age 60 of the subscriber is returned to the nominee.
The contribution to the scheme can be made monthly/quarterly/half yearly basis.
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