National Pension System (NPS) has soared to Rs 90,327 crore with the 1.15 crore subscribers

The total corpus of National Pension System (NPS) has soared to Rs 90,327 crore with the contribution of nearly 1.15 crore subscribers, the Finance Ministry said on Tuesday. The total assets under management (AUM) are worth Rs 1.09 lakh crore while AUM per subscriber on average is Rs 95,000, a finance ministry statement said. "NPS had 1.15 crore subscribers with a total corpus of Rs 90,327 crore as on January 23, 2016," it said.

NPS subscribers of central government are 14.1 percent of the total subscribers while that of the state governments are 24.9 percent. The number of NPS subscribers in the central government is 16.11 lakh with a total corpus of Rs 34,754 crore. State governments contribute Rs 45,486 crore to the corpus, from their 28.59 lakh subscribers. There are 4.48 lakh NPS subscribers in the corporate sector and 1.28 lakh in the unorganised sector. The number of subscribers under Atal Pension Yojana (APY) 19.48 lakh. The pension fund regulatory body (PFRDA) completed two years of its statutory status on February 1, 2016 and to mark this occasion, it is observing NPS Service Week from February 1-6.

During the NPS Service Week, PFRDA will create awareness about the scheme, take efforts to reduce subscribers' grievances, update subscriber details and advise subscribers regarding benefits associated with Permanent Retirement Account among others. The Pension Fund Regulatory and Development Authority (PFRDA) will also organise a Pension Conclave on February 4.

http://www.moneycontrol.com/news/economy/nps-corpus-swells-to-rs-90327-cr115-cr-subscribers_5266501.html