21/10/2015

AssetsUnderManagement(AUM)ofNationalPensionSystem(NPS)crossRS.1LacCrore

PressInformationBureau
GovernmentofIndia
MinistryofFinance
08October201518:22IST

AssetsUnderManagement(AUM)ofNationalPensionSystem(NPS)crossRS.1LacCrore

NPShasbeenimplementedforallGovernmentEmployees(exceptarmedforces)joiningCentralGovt.on
or after 01 January 2004. Most of the State/UT Governments have also notified the National Pension System
(NPS)fortheirnewemployees.NPShasbeenmadeavailabletoeveryIndianCitizenfrom01stMay2009ona
voluntarybasis.Further,from1stJune2015,theAtalPensionYojanahasbeenlaunchedwhichhasgiventhe
muchrequiredimpetustothesocialsecurityschemes.Currently,NPSandAPYtogetherhavemorethanOne
CroresubscriberswithtotalAssetsUnderManagement(AUM)ofRs.1,00,275crores.Thesegmentwisestatus
oftheNPSandAPYason03.10.2015isasunder:

Segment
No.ofSubscribers
Asset
under
Management(Rs.Cr.)
CentralGovernment
15,71,136
42,381
StateGovernments
27,74,459
47,974
NPSPrivateSector
5,24,143
7,943
NPSLite/Swavalamban
44,67,733
1,865
Atal Pension Yojana
7,94,467
112
(APY)
Total
1,01,31,938
1,00,275

PensionFundRegulatoryandDevelopmentAuthority(PFRDA)hastakenvariousstepsatthepolicyas
wellasoperationallevelstomakeNPSmoresubscriberfriendly.Inadditiontothisadditionaltaxbenefitsmade
availableexclusivelytoNPShasgivenafilliptothescheme.Thisisfurtherexpectedtoresultintoasubstantial
increaseinthesubscriberbasebyendMarch2016.

Thefollowingstepshavebeentakenintherecentpastfortheconvenienceofthesubscriber:

The investment guidelines for NPS have been revised to expand the investment avenues for
optimisationofthereturns.
Partialwithdrawalupto25%ofsubscribersowncontributionforspecificpurposeslikehighereducation
ofchildren,marriageofchildren,constructionofhouseandspecifiedillnesshavebeenallowedtothe
NPSsubscribersaftercompletionof10yearsinNPS.
NPSPrivateSectorsubscriberscancontinuecontributingbeyond60yearsupto70yearsofage.
NPSSubscribercandeferthewithdrawaloflumpsumamountuptotheageof70yearsandalsohave
theoptiontodeferpurchaseofannuityupto3yearsfromthedateofsuperannuationor60years.The
fundsduringthisperiodremaininvestedinthesystem.
TheStatementofTransactions(SOT)beingsentbyCRAtotheexistingsubscribershasbeenmodified
toreflectthereturnsoftheindividualsubscribersincethedateofaccountopeningandalsothereturn
generatedduringthelastfinancialyear.
To facilitate and operationalize the deposit of additional contribution of Rs.50,000/ to avail of the
additionaltaxbenefitunderSection80CCD(1B),GovernmentSubscribersalreadycoveredunderNPS
have been provided the facility to deposit voluntary contributions in their Tier I account through any
POPSP.Governmentemployeecoveredunderoldpensionschemecanalsoavailthistaxbenefitby
openingindividualTierIaccountthroughanyPOPSPandcontributingtothesame.
Onlineresetofpasswordandfacilitytochangemobileno.andemailIdhavebeenprovidedtoallthe
NPSsubscribers.
SMS alerts on balances in the NPS account being sent to the subscribers on quarterly basis, in
additiontoregularmonthlyalertsoncontributionandotherchangesinthePRAN.

APYschemeprovidesminimumGovtguaranteedmonthlypensiontosubscribersrangingfromRs1000
toRs5000.Further,Govt.ofIndiaalsococontributes50%ofthetotalcontributionmadebyasubscriberduring
a financial year subject to maximum of Rs 1,000/ per annum for a period of five years, if eligible subscribers
opentheaccountby31stDecember2015.AllIndianCitizens,intheagegroupof1840yearsareeligibletojoin
theschemethroughanybankbranch.About8lakhsubscribershavejoinedAPYtilldate.

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21/10/2015

AssetsUnderManagement(AUM)ofNationalPensionSystem(NPS)crossRS.1LacCrore

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