AUM crosses Rs 5 lakh crore underneath PFRDA

The Pension Fund Regulatory and Improvement Authority (PFRDA) on Thursday introduced that Asset Below Administration (AUM) has crossed the Rs 5 lakh crore restrict. The contribution of shoppers underneath the Nationwide Pension System (NPS) and Atal Pension Yojana (APY) has helped to the touch this historic determine collectively over a interval of 12 years.

The expansion within the variety of NPS subscribers through the years has been fairly exceptional. 70.40 lakh staff of presidency sector and 24.24 lakh staff of non-government sector have joined this scheme.

The regulatory physique PFRDA usually strives to make buyer registration, exit processes and different service requests clean and subscriber pleasant. It usually introduces new strategies of varied Subscriber Authentication like OTP / e-signing primarily based on boarding, off line basis-based on boarding, third occasion onboarding adopted by KYC verification, e-enrollment, e-exit for NPS subscribers. Was once.

President of PFRDA, Supratim Bandyopadhyay stated, reaching the Rs 5 lakh crore restrict underneath AUM is a serious achievement. This displays the boldness of shoppers in PFRDA and NPS. We’ve got labored on a strong and specialised system with higher methods and expert skilled fund managers, which permits our shoppers to deposit their retirement funds. “


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