Swavalamban subscribers of micro-pension scheme can switch to APY: PFRDA

MUMBAI: Subscribers of micro-pension scheme 'Swavalamban', which closes tomorrow, can switch to the 'Atal pension Yojana' (APY) and retain the government's co-contribution, a PFRDA official said today.'Swavalamban' scheme, which was launched by the UPA government in 2010-11, is a government-backed micro-pension scheme aimed at the unorganised sector and applicable to those who joined the National Pension Scheme (NPS).Under the scheme, the government...

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NPS shoot up 50% to Rs.1,07,802 crore as on December-end 2015

Thanks to the introduction of the Atal Pension Yojana, the National Pension System has seen a 43 per cent year-on-year jump in the number of subscribers to 1.13 crore as of December-end 2015, from about 79 lakh as of December-end 2014.Increasing awareness among individuals about the need for financial security and stability during old age via pension has also seen the assets under management (AUM) of NPS shoot up 50 per cent to ₹1,07,802 crore as on December-end 2015 from about ₹72,000 crore as on December-end 2014.The Atal Pension Yojana (APY)...

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