Pension Bulletin

Volume VI
Issue I

Pension Fund Regulatory and

Development Authority

Chhatrapati Shivaji Bhawan,

B-14/A,Qutab Institutional Area,
Katwaria Sarai,
New Delhi-110016
 Table of Contents
Page No.

Section 1: Tax Provisions in NPS ..................................................................................... 2

Section 2: NPS Statistics.................................................................................................. 6
i. Sector wise growth ................................................................................................... 6
ii. Overall Status of State Governments ..................................................................... 11
iii. UoS Sector (All citizens) in NPS ............................................................................. 14
iv. Total amount of subscribers contribution under UoS (Tier-I & Tier II): ................. 14
v. Total amount of AUM under UoS (Tier-I & Tier II) .................................................. 15
vi. Total number of corporate, subscriber, contribution & AUM registered in
Corporate Sector: ...................................................................................................... 16
vii. Status of APY: ....................................................................................................... 16
viii. PFM wise Total Assets on NPS schemes .............................................................. 17
ix. PFM wise Return on NPS Schemes ........................................................................ 18
x. Performance of NPS Schemes of Central Government & State Government
Employees ................................................................................................................. 19
xi. Performance of NPS schemes for Unorganized/Private Sector ............................. 20
Section 3: Circulars/Notices/Guidelines Issued ............................................................. 24
Section 4: Training/ Workshops /Conference conducted.............................................. 26
Section 5: Macro-Economic Statistics ........................................................................... 29

1
Section 1: Tax Provisions in National Pension System (NPS)
NPS is a contributory pension scheme where all the benefits are based on the contributions made and
returns generated on investment of these contributions. The National Pension System (NPS) was
introduced for all Central Government employees (except armed forces) joining services on or after
01.01.2004. Most of the State Governments have also notified NPS for their employees with certain
cut-off date. Later on it was made available for all Indian citizens between the age of 18 to 60 years on
voluntary basis. Employers can also contribute to the NPS account of the employees, which results
into higher corpus of pension wealth for the subscribers. All salaried individuals covered under other
pension and retirement schemes (and not required mandatorily to be covered under NPS) can also
open NPS account on individual basis under All Citizen Model and avail all the tax benefits available
under NPS. NPS provides the platform to all individuals, employed or self-employed, to contribute
during the working age and to save for their retirement.
Under NPS, two types of account are available to the subscribers i.e., Tier I & Tier II; Tier I account
which is primarily the pension account , where a subscriber contributes his / her savings for retirement
and withdrawal from this account is conditional and can happen only for certain specified reasons as
per the Exit Regulations notified by PFRDA. A subscriber having Tier I account is eligible to open Tier
II account, which is a voluntary savings account from which subscribers are free to withdraw his / her
savings whenever he/she wishes. The Tax provisions mentioned in this article are applicable to
Tier I pension account. Theses tax benefits are not applicable to Tier II account.
In a bid to provide impetus to the National Pension System (NPS), the Government has announced
additional tax benefits on contribution to NPS and also made the lumpsum withdrawal partially tax
exempt. In the Finance Bill 2017, provision has been made to make the partial withdrawal tax free and
the tax deductible contribution of the self-employed persons has been increased from 10% of Gross
Income to 20% of Gross Income.

To understand the tax benefits available under NPS, let us understand the tax provisions one by one.
A. Tax Benefits on Contribution to NPS:
1. Self-employed person ( Any individual other than a salaried employee)

Presently, contributions upto 10% of the Gross Income of the self-employed is deductible from
the taxable income under section 80CCD(1) of the Income Tax Act, subject to ceiling of Rs.
1.50 lacs under Section 80CCE. In the Finance Bill 2017, the limit of contribution eligible for
deduction for self-employed individual has been increased to 20% of Gross Income from the
existing 10% of the Gross Income. This enhanced limit will be applicable for contribution made
on or after 1st April 2017.

2
2. Salaried Employee:

Employees own contribution up to 10% of salary (basic plus dearness allowance) to NPS are
tax deductible under Section 80CCD(1) of Income Tax Act, subject to a ceiling of Rs.1.50 lacs
under section 80CCE.

Additional Tax benefit on self contribution to NPS

For both salaried and self-employed individuals, an additional deduction for investment
up to Rs.50,000/- has been provided under section 80CCD(1B) of the Income Tax Act,
1961 which is over and above the ceiling of Rs.1,50,000/-. Therefore, the total deduction
that can be claimed for own contribution to NPS can go upto Rs.2 1akh.

Salaried Employee also gets the tax benefit on employer contribution to his/her NPS
account. Contribution made by the employer upto 10% of salary (Basic+Dearness Allowance)
can be claimed as deduction from the taxable income under section 80CCD(2) of the Income
Tax Act,1961..There is no upper cap (in terms of amount) on this tax deduction. This
deduction is over and above the ceiling limit of Rs 1.5 lacs provided under Section 80C
and limit of Rs 50,000 under Section 80CCD(1B). However, this benefit is available to
salaried employees only. To maintain parity, it has been proposed to allow deduction on
contribution upto 20% of the gross income to self-employed persons.

3. Employer:

The employers can treat the contributions up to 10% of basic plus dearness allowance
made to each employees NPS account as business expenses and get deduction under
section 36(1)(iv)(a) of the Income Tax Act, 1961 without any upper ceiling.

B. Tax treatment on Maturity or Withdrawal from NPS

1. Partial Withdrawal
Subscriber is allowed to make partial withdrawal for certain specified purposes such as education and
marriage of children, treatment of specified illnesses, and purchase/construction of house as per the
provisions of the Exit Regulations notified by PFRDA. The amount which can be withdrawn is
restricted to 25% of the self contribution.

3
In the Finance Bill 2017, it has been proposed to insert a new clause (12B) in the section 10 of
Income Tax Act, 1961 to provide exemption on partial withdrawal not exceeding 25% of the
contribution made by an employee.
2. Withdrawal on superannuation or 60 years of age (as the case may be)

At the time of normal exit (which is superannuation age for subscribers joining NPS through
employer or 60 years of age for subscriber under All Citizen Model), the subscriber is
required to utilize at least 40% of the accumulated wealth in the NPS account for purchase of
annuity(pension). Remaining 60% can be withdrawn as lump sum. If the subscriber wishes, he/she
can utilize higher percentage of the accumulated corpus for purchase of annuity and this
percentage can go upto 100% of the accumulated corpus.

The amount utilized for purchase of annuity is not treated as income as per Section 80CCD (5) of
the Income Tax Act, 1961. However, the annuity income (pension) shall be taxed in the year of
receipt as per the income tax slab applicable for the subscriber in the year of receipt of pension. No
service tax is levied at the time of purchase of annuity utilizing the corpus of NPS.

As per section 10(12A) of the Income Tax Act, 1961, 40% of the accumulated NPS corpus is
exempt from tax at the time of withdrawal. So, a subscriber can withdraw 40% of the
accumulated corpus without paying any tax. If the subscriber withdraws more than 40%, it would be
taxable at the marginal income tax rate of the subscriber in the year of withdrawal. .
So, if a subscriber uses 40% of the accumulated corpus for lump sum withdrawal and
remaining 60% for annuity purchase at the time of exit, he/she does not pay any tax at that
time. Only the annuity income that he/she receives in the subsequent years will be subject to
income tax at the marginal tax rate of the subscriber.

In case the subscriber withdraws the whole amount in lumpsum due to the accumulated corpus
being below the threshold limit specified by Exit Regulations, the tax exemption is available only on
40% of the total accumulated corpus.
3. Pre-mature exit from NPS (Exit before normal exit)

At the time of Pre-mature- exit (which is exit before superannuation for subscribers joining
NPS through employer or before completing 60 years of age for subscribers under All
Citizen Model), the subscriber is required to utilize at least 80% of the accumulated wealth in
the NPS account for purchase of annuity/pension. Remaining 20% can be withdrawn as lump
sum. Even in this case, lump sum withdrawal up to 40% will be exempt from tax. However, since
the Exit Regulations allows only 20% lump sum withdrawal in case of pre-mature exit, lump sum
withdrawal made in this case will not be taxed. The amount used to purchase annuity is not taxed.

4
 However, the annuity income (pension) shall be taxed in the year of receipt as per the income tax
slab applicable for the subscriber in the year of receipt of pension.

In case the subscriber withdraws the whole amount in lumpsum due to the accumulated corpus
being below the threshold limit specified in Exit Regulations notified by PFRDA, the tax exemption
is available only on 40% of the total accumulated corpus.
4. Withdrawal in the event of death of subscriber
In the event of death of the subscriber, the nominee can withdraw the accumulated corpus (in case of
All Citizen model). The nominee can opt for annuity payouts too. In case of government sector NPS,
purchase of annuity (at least 80%) is mandatory and remaining can be taken as lump sum.
As per section 80CCD(3) of the Income Tax Act, 1961, the lump sum withdrawal by the nominee
shall be exempt from Income Tax. If the nominee uses the amount to purchase annuity, the
annuity income will be taxed as per nominees income tax slab in the year of receipt.

With these tax benefits, NPS is an attractive retirement/ long term investment for all Indian Citizen.

5
Section 2: NPS Statistics
i. Sector wise growth
a) The number of subscribers under NPS and APY increased from Rs. 141.89 lakhs as at the end of
December, 2016 to Rs. 145.42 lakhs as end of January, 2017 i.e. by 2.49 % growth supported by a
growth of 7.18 % in APY and 10.92 % in unorganized sector.
During the current financial year i.e. April - January 2017, the number of subscribers has increased
from 122.35 lakhs to 145.42 lakhs, registering a growth of 18.86 %. The maximum growth is
witnessed in APY, in which the number of subscriber increased from 24.85 lakhs as at the end of
March 2016 to 41.92 lakhs as at the end of January 2017, registering a growth of 68.69 %. UoS/All
citizen subscribers have increased by 51.16% during the first 10 months of the current financial year
and Corporate Sector subscribers have increased by 17.51 % during the same period.

Table No: 1. Number of Subscriber (in lakhs)

Number of Subscribers (in lakhs)

Mar- Mar- Mar- Mar- Sep- Nov- Dec-
Mar-12 13 14 15 16 Jun-16 16 Oct-16 16 16 Jan-17

CG 9.30 11.27 13.42 15.12 16.58 16.94 17.31 17.44 17.51 17.61 17.68
SG 11.56 16.41 20.07 26.30 29.24 30.29 31.36 31.70 31.97 32.31 32.6
Govt. sec Total 20.91 27.67 33.49 41.42 45.82 47.23 48.67 49.14 49.49 49.92 50.28
Govt. sec % of
growth 32.33 21.03 23.67 10.63 10.74 12.06 12.30 12.21 12.38 12.18
Corporate Sector 0.17 1.43 2.62 3.73 4.74 4.95 5.21 5.32 5.39 5.51 5.57
All Citizen 0.57 0.70 0.79 0.87 2.15 2.37 2.61 2.69 2.75 2.93 3.25
(Corp+All Citizen)
Sec Total 0.74 2.14 3.41 4.60 6.89 7.33 7.82 8.01 8.14 8.44 8.82
(Corp+All Citizen)
Sec % growth 188.52 59.65 34.87 49.77 49.64 49.54 49.24 49.07 50.45 51.55
NPS Lite/
Swavalamban 9.69 17.80 28.16 41.47 44.80 44.64 44.57 44.53 44.52 44.42 44.4
APY - - - - 24.85 29.81 34.43 36.56 37.24 39.11 41.92
Subtotal (NPS
lite+APY) 9.69 17.80 28.16 41.47 69.65 74.45 79.00 81.09 81.76 83.53 86.32
(NPS lite+APY) %
growth 83.74 58.21 47.26 67.95 57.98 50.243 52.87 45.24 33.05 34.04
Total 31.33 47.61 65.06 87.49 122.35 129.01 135.49 138.24 139.38 141.89 145.42
YoY % of Growth 51.95 36.66 34.47 39.84 36.26 33.83 35.31 31.68 25.77 26.41

6
Chart No: 1. Number of Subscriber (in lakh)

Number of subscribers (in lakh)

160 141.89 145.42 60.00
51.95 135.49 138.24 139.38
140 129.01
122.35 50.00
120
36.66 34.47 40.00

Y-o-Y % growth
100
39.84
in lakh

80 65.06 36.26 35.31 25.77 26.41 30.00

87.49 33.83
31.68
60 47.61
20.00
40 31.33
10.00
20

0 0.00
Mar-12 Mar-13 Mar-14 Mar-15 Mar-16 Jun-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17

CG SG Corporate Sector All Citizen

NPS Lite/ Swavalamban APY Total YoY % of Growth

Chart No: 2. % share of subscriber as on 28th Jan, 2017

APY
29% Government Sector
35%

NPS Lite
30%

Corporate sector
4%
All citizen model
2%

b) The contribution under NPS has increased from Rs. 123492 crore as at the end of December, 2016
to Rs. 126730 crore as at the end of January, 2017 i.e. by 2.62 %.
During April - Jan 2017, the contributions received from subscribers have increased from Rs.95849
crore to Rs. 126730 crore, i.e. a growth of 32.21 %. The maximum growth in contribution has been
witnessed in APY (204.28 %), followed by All Citizen (84.58 %) and Corporate sector (40.14 %).

7
Table No: 2. Total Contribution (Rs. In crores)
Total Contribution (Rs. In crore )
Mar-12 Mar-14 Mar-15 Mar-16 Jun-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17

CG 9516 20029 27458 36329 38721 41996 43133 44123 45299 46248
SG 3276 18364 29702 48007 52461 57474 59060 60361 61851 63431
Govt. sec Total 12792 38393 57160 84336 91182 99470 102193 104483 107150 109679
Govt. sec % of
61.39 48.88 47.54 42.99 38.81 38.78 38.15 37.73 37.51
growth
Corporate Sector 122 2790 4801 8010 8827 9783 10172 10487 10889 11225
All Citizen 130 348 497 1219 1441 1650 1743 1834 2000 2250
(Corp+All Citizen)
252 3138 5298 9229 10267 11432 11915 12322 12889 13476
Sec Total
(Corp+All Citizen) 95.01 68.82 74.20 62.30 60.56 60.00 59.79 59.58 59.96
Sec % growth
NPS Lite/
138 793 1380 1792 1900 2036 2046 2057 2068 2082
Swavalamban
APY - - - 491 743 1037 1149 1256 1386 1494
Subtotal (NPS
138 793 1380 2283 2643 3074 3196 3313 3454 3575
lite+APY)
(NPS lite+APY) % 94.71 73.93 65.45 69.91 80.94 82.54 83.16 75.11 74.29
growth
Total 13181.95 42325 63838 95849 104092 113977 117304 120118 123492 126730
YoY % of Growth 64.01 50.83 50.14 45.28 41.63 41.62 41.07 40.58 40.44

Chart No: 3. Total Contribution (Rs. In crores)

140000 120.00
126730
123492
117304 120118
120000 95.77 113977
100.00
104092
95849
100000
80.00
64.01

Y-o-Y % growth
Rs.in crores

80000
50.83 60.00
50.14
60000 45.28
41.63 41.62 41.07 40.58 40.44
42325 63838 40.00
40000
25806

13181.95 20.00
20000

0 0.00
Mar-12 Mar-13 Mar-14 Mar-15 Mar-16 Jun-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17

CG SG Corporate Sector
All Citizen NPS Lite/ Swavalamban APY
Total YoY % of Growth

8
Chart No: 4. % share of contribution in NPS as on 28th Jan, 2017

NPS Lite
All citizen model 2% APY
Corporate sector 2% 1%
9%

Government Sector
86%

c) The AUM under NPS have increased from Rs. 161,016 crore as end of December, 2016 to Rs.
166847 crore as at the end of January, 2017 i.e. by 3.62 % during the month of January 2017. During
April Jan 2017 of the current Financial Year, the AUM under NPS & APY has increased from Rs.
118,810 crore to Rs. 166,847 crore i.e. by 40.43 %.
During the month of January 2017, the highest growth in AUM in percentage terms is witnessed in
unorganized sector which is 12.93 % followed by increase of 8.68% in APY. AUM under APY has
more than tripled during April - January 2017, from Rs. 506 crore as end of March 2016 to Rs. 1628
crore as end of January, 2017 i.e. by 221.7 %.

Table No: 3. AUM (Rs.in crore)

AUM (Rs. In crore )
Mar- Mar- Mar- Mar- Jan-
Mar-16 Jun-16 Sep-16 Oct-16 Nov-16 Dec-16
12 13 14 15 17

CG 11256 17317 24177 36737 48135 51885 58891.7 60353 63146 62896 64853
SG 3506 10748 20095 36244 57498 63565 73264.3 75245 78894 78532 81351
Govt. sec total 14762 28065 44272 72981 105633 115450 132156 135598 142040 141428 146204
Y-o-Y Govt. sec
90.12 57.75 64.84 44.74 45.36 46.48 46.28 50.48 46.31 48.91
% growth
Corporate
129 1120 2628 5675 9290 10390 12169.4 12604 13269 13379 13982
Sector
All Citizen
132 231 365 594 1273 1526 1837.98 1916 2008 2119 2393
(UOS)
(Corp+All
Citizen) Sec 261 1351 2993 6269 10563 11916 14007.4 14520 15277 15497 16375
Total

9
Y-o-Y (Corp+All
Citizen) Sec % 417.76 121.56 109.45 68.5 72.16 76.74 75.01 79.38 74.37 78.99
growth
NPS Lite/
140 436 839 1606 2108 2257 2546.72 2562 2649 2592 2641
Swavalamban
APY - - - - 506 779 1139.79 1255 1405 1498 1628
(NPS-Lite+APY)
140 436 839 1606 2614 3036 3686.51 3817 4054 4090 4268
Sub total
Y-o-Y (NPS-
Lite+ APY) % 210.41 92.47 91.31 62.79 71.64 86.625 87.83 94.63 81.783 84.75
growth
Total 15163 29852 48105 80855 118810 130403 149850 153935 161370 161016 166847
Y-o-Y Total % of
96.87 61.14 68.08 46.94 48.00 49.67 49.41 53.70 49.363 52.17
growth

Chart No: 5. AUM (Assets under Management)

180000 166847 120.00

161370 161016
149850 153935
160000 96.87
100.00
140000 130403
118810
120000 80.00

Y-o-Y % growth
68.08
Rs.in crores

100000 61.14
80855 53.70 52.17 60.00
46.94 48.00 49.67 49.41 49.36
80000

60000 48105 40.00

40000 29852
15163 20.00
20000

0 0.00
Mar-12 Mar-13 Mar-14 Mar-15 Mar-16 Jun-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17

CG SG Corporate Sector
All Citizen NPS Lite/ Swavalamban APY
Total Y-o-Y Total % of growth

10
Chart No: 6. % share of AUM in NPS as on 28th Jan, 2017

All citizen model NPS Lite APY

Corporate sector
1% 2% 1%
8%

Government Sector
88%

ii. Overall Status of State Governments

There are 29 states under NPS.Tamil Nadu has adopted pension scheme under National Pension
System (NPS). Though it does not contribute towards the employees pension account under NPS.
So, PFRDA have to take them on board to make contribution. Besides, West Bengal and Tripura have
not adopted the NPS so far, and PFRDA is in discussion with both the states to take them on board,
as end of January 2017, Uttar Pradesh has the highest number of subscribers enrolled under NPS
followed by Madhya Pradesh and Chhattisgarh.
In terms of assets under management (AUM), Rajasthan has the highest AUM of Rs. 9,561.50 crores
followed by Maharashtra and Madhya Pradesh. AUM per subscribers for State Government
employees is Rs. 2.50 lakhs. Nagaland & Kerala have the lowest number of AUM per subscriber. It is
high for West Bengal and Tripura, which has adopted NPS only for AIS officials. They are followed by
UTs i.e. Pondicherry and Chandigarh.

11
Chart No: 7. State government wise Number of subscribers in NPS (in lakh)

(As on 28th Jan, 2017)

Total No. of Subscriber (in lakhs)

4.5 4.0
4.0 3.5
3.5 2.7 2.7
3.0 2.4
2.5 1.8 1.7
2.0 1.4 1.3 1.3 1.2 1.2 1.2
1.5 1.1 1.0 0.9
1.0 0.7 0.7 0.6
0.3 0.3 0.1 0.1 0.1 0.1 0.1 0.1 0.0
0.5 0.0 0.0
0.0

Puduchery**
Orissa

Goa
Punjab

Kerala

Nagaland
Karnataka
Chhattisgarh

Telangana

Utarakhand

Manipur

West Bengal*
Bihar

Arunachal Pradesh
Jharkhand

Sikkim
Uttar Pradesh

Gujarat

Mizoram
Madhya Pradesh
Rajasthan

Assam

Haryana
J&K
Maharashtra

Chandigarh**

Tripura*
Meghalaya
Andhra Pradesh

Himachal Pradesh

*Executed agreement with CRA and NPS trust only for AIS officer
** Chandigarh and Puducherry status is included under the state government Status

Chart No: 8. State government wise amount of contribution in NPS (Rs.in crore)
th
(As on 28 Jan, 2017)

7,414 Contribution (Rs.in crore)

8,000
7,000
6,000 5,599
4,891
5,034
5,000 4,2194,026
4,000 3,399
3,251 3,016 2,890 2,251
3,000 2,899
2,502 2,118
2,001 1,8921,730
2,000 1,394
448
1,000 649 424 408 320 211
136 119 111 71 8 2 0
0

*Executed agreement with CRA and NPS trust only for AIS officer
** Chandigarh and Puducherry status is included under the state government Status

12
Chart No: 9. State government wise Assets under Management in NPS (Rs.in crore)
th
As on 28 Jan, 2017

12,000 AUM (Rs.in crore)

9,562
10,000

8,000 6,555
6,484 6,132
6,000 5,503 4,284
5,263
4,316 3,915
3,8933,7543,322 2,753
4,000
2,851 2,746 2,544
2,197
1,760
2,000
755 557 526 485
417 265 150 144 124 83
12 2 0
0

*Executed agreement with CRA and NPS trust only for AIS officer
** Chandigarh and Puducherry status is included under the state government Status

Chart No: 10. State government wise Assets per subscriber in NPS (in lakh)
As on 28th Jan, 2017

AUM/Subscriber (Rs.in lakh)

8
6.77
7

6
5.16
5 4.58
4.17
3.93 3.79 3.7 3.51
4 3.54
3.13 3.1 3.06
2.85 2.79 2.76 2.74 2.74
3 2.6
2.21 2.17
1.88 1.86 1.83 1.8
2 1.59 1.54 1.45
1.26
0.84
1 0.81
0
0

*Executed agreement with CRA and NPS trust only for AIS officer
** Chandigarh and Puducherry status is included under the state government Status

13
iii. UoS Sector (All citizens) in NPS
As end of January 2017, 76 PoPs with 58,214 service providers are registered with PFRDA to provide
NPS services to citizens. While the registration and contribution upload of Government and
Government bodies employees is done by their respective Pay & Account offices, the private and the
unorganized sector employees are serviced through the PoPs which are banks & non-banking finance
companies. As on 28th January 2017, the total number of active accounts of All Citizen subscribers
under Tier I is 325,253 against 292,564 in December 2016. As at the end of January, 2017, there are
61,568 subscribers having Tier II accounts under NPS against 55,255 accounts as end of December,
2016.

Table No: 6. Total number of PoP & PoP-SP & subscribers in CRA

Registered
Mar- Apr- May- Jun- Aug- Sep- Oct- Nov- Dec- Jan-
PoPs & PoP- Jul-16
16 16 16 16 16 16 16 16 16 17
SP in CRA
Total number of
registered 70 72 72 71 73 74 75 76 76 76 76
PoPs in CRA
Total number of
registered PoP- 55,580 55,644 55,647 56,065 56,893 56,908 56,959 56,977 57,063 57,489 58,214
SP in CRA

Chart No: 11. Total number of active account subscriber in CRA under Tier-I & Tier-II

350,000 325,253
Total no.of active account subscriber

292,564
300,000 268,543 274,995
253,532 260,769
237,471 245,384
250,000 225,605 231,056
204,536
200,000

150,000

100,000
51,761 55,255 61,568
42,739 46,062 49,340 51,309
50,000 31,002 33,091 34,450 35,283

0
Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17

Tier I Tier II

iv. Total amount of subscribers contribution under UoS (Tier-I & Tier II):
The contribution from Tier-I has increased from Rs. 1,733 crores as on 31st December, 2016 to Rs
1,966 crores as on January 28th, 2017. The contribution received under Tier II as end of January,
2017 is Rs. 285 crores against the contribution of Rs 266 crore as end of December, 2016.

14
During April - January 2017, the contributions under All Citizen Tier I NPS have increased from Rs.
962 crores to 1,966 crores i.e. a growth of 104.37 % and Contribution under Tier II NPS has
increased from Rs. 161 crores as end of March 2016 to Rs. 285 crores as at the end of January,
2017 i.e. by 77.02 %.

Chart No: 12. Contribution of individual subscriber (UoS) in NPS under Tier-I &Tier-II (Rs. In crore)

2500
1966
2000 1733
1507 1586
Rs.in Crore

1318 1372 1430

1500 1170 1213 1257
962
1000

500 172 178 184 193 205 220 236 249 266 285
161
0
Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17

Tier-I Tier-II

v. Total amount of AUM under UoS (Tier-I & Tier II)

The AUM for UoS under Tier- I as end of January, 2017 was Rs. 2090 crores against the AUM of Rs.
1838 crores as end of December 2016. During April Jan 2017, the AUM increased from Rs. 1103
crore to Rs. 2090 crore, i.e. 89.48%.
The AUM of Tier-II has increased from Rs.280 crore as end of Dec 2016 to Rs. 304 crore in the
month of January, 2017. During first April January 2017, Tier II AUM increased from Rs. 170 crore
to Rs. 304 crore, i.e. 78.82 %.
Chart No: 13. AUM of individual subscriber (UoS) in NPS under Tier-I &Tier-II (Rs. In crore)

2,500
2,090
2,000 1,838
1,659 1,739
1,513 1,596
1,453
Rs.in crore

1,500 1,287 1,333

1,226
1,103
1,000

500 210 224 242 256 269 280 304

170 179 187 193
0
Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17
Tier-I Tier-II

15
vi. Total number of corporate, subscriber, contribution & AUM registered in
Corporate Sector:
The total number of corporates registered under NPS has increased from 2,991 as on December 16 to
3,064 as on January 28th 2017. During the first 10 months of current FY 2016-17, number of
corporates registered under NPS has increased from 2,354 to 3,064.

Table No: 7. Total number of corporate registered in Corporate Sector:

Total Corporate Mar- Apr- May- Jun- Jul- Aug- Sep- Oct- Nov- Dec-
Jan-17
registered 16 16 16 16 16 16 16 16 16 16

Total number of
corporate registered 2,354 2,426 2,474 2,554 2,652 2,728 2,808 2,873 2911 2991 3064
in NPS

Chart No: 14. Total number of subscriber, contribution & AUM registered in Corporate Sector

16000 580000
13982
AUM & CONTRIBUTION (Rs. In Thousand)

14000 13269 13379 560000

12604 557450
12169 550538
11661 538759
12000 11206 540000
10390 532268 11225
10048 10889

Subscriber (in lakh)

9677 9484 9783 10487
10000 9124 9168 10172 520000
8540 8827 521083
7873 8268
513132
8000 500000
504019
6000 495452 480000
487431
479487
4000 472076 460000

2000 440000

0 420000
Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17

Contribution AUM Total number of subscriber registered in Corporate Sector

As on 28th January 2017, the number of Corporate registered under NPS is 3,064 with 557,450
subscribers. The contribution received from the corporate subscribers as on 28th January, 2017 was
Rs.11, 225 Crores and AUM was Rs. 13,982 Crores. As on 28th January 2017, AUM per subscriber
for Corporate Sector is Rs.2.51 lakhs.

vii. Status of APY:

The subscriber base of Atal Pension Yojana has reached 41.92 lakhs as on January 28th 2017 from
24.85 lakhs as end of March 2016. AUM under APY has increased to Rs.1628 crores as at the end of
January, 2017 from Rs.506 Crore as at the end of March 2016.

16
Table No. 8. Status of APY

Status of APY
Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct- Nov- Dec- Jan-
Year/Month 16 16 16 17

Total number of Banks registered under APY

Banks 372 376 377 385 390 392 392 394 394 394 394

Chart No: 15. Total number of subscriber, contribution & AUM registered in APY

1800 41.92 45.00

39.11
1600 36.56 37.24 1628 40.00
34.43 1498
Contribution & AUM (RS.in crores)

1400 32.67 1405 1494 35.00

31.44

No. of subscriber (in lakh)

29.81 1255 1386
28.58
1200 26.20 1140 30.00
24.85 1256
1014 1167
1000 922 25.00
1042
779 938
800 865 20.00
686
600 595 748 15.00
506 677
592
400 491 10.00

200 5.00

0 0.00
Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17

Contribution (Rs.in crore) AUM (Rs.in crore) Subscribers (in lakh)

viii. PFM wise Total Assets on NPS schemes

Table No: 13. Pension Funds (Assets Rs.in crores) *

Pension Funds (SBI+LIC+KOTAK+HDFC+ICICI+RELIANCE+UTI) (Assets Rs in crores )

Total Assets Mar- Mar- Mar- Mar- Mar- Mar- Jun- Sep- Oct- Nov- Dec- Jan-
(Rs. In crore) 11 12 13 14 15 16 16 16 16 16 16 17

Scheme

CG 7266 11256 17313 24188 36736 48135 52398 58963 60354 63199 62896 64841

SG 1229 3555 10823 20211 36396 57693 64537 73799 75480 79295 78774 81671

Corporate CG - - 693 1810 4105 6805 7692 8924 9189 9740 9782 10181

TIER I E 28 64 168 356 655 1181 1443 1676 1755 1744 1821 2050

17
 C 20 48 129 247 470 888 1008 1177 1229 1308 1349 1453

G 29 78 245 409 771 1325 1521 1786 1856 2018 2023 2162
NPS
3 141 436 844 1606 2108 2279 2547 2562 2647 2592 2638
Swavalamban
E 4 7 14 26 44 60 72 87 91 91 96 107

TIER II C 3 8 16 24 38 55 61 76 80 85 88 94

G 4 7 13 20 35 54 63 81 86 95 96 103

ix. PFM wise Return on NPS Schemes

Table No: 12. Returns since inception (in %)* As on 31st Jan, 2017
Pension Funds SBI UTI LIC KOTAK RELIANCE ICICI HDFC

CG 10.73 10.29 10.39

SG 10.39 10.41 10.55

Corporate-CG 11.27 11.50

E 8.86 10.91 12.50 10.02 10.05 11.11 15.19

TIER I C 11.54 10.13 12.54 11.48 9.99 11.50 12.51
G 10.64 9.31 13.54 9.55 9.19 9.61 12.48
E 8.41 8.62 7.32 9.05 8.52 8.44 10.48
TIER II C 11.23 10.34 10.81 10.21 9.73 11.46 10.64
G 10.94 10.51 13.91 9.42 9.57 9.84 13.20
NPS Swavalamban 11.53 11.30 11.32 11.65
Central Government: 1-Apr-08
State Government: 25-Jun-09
Swavalamban: (SBI, LIC, UTI,): 4-Oct-10, (Kotak PF): 31-Jan-12
Corporate (Central Govt. Pattern): 5-Nov-12
Scheme [E, C, G] (Tier-I) - (SBI, UTI, ICICI, RELIANCE, KOTAK): 1-May-09, (LIC): 23-Jul-13, (HDFC PF): 1-Aug-13
Scheme [E, C, G] (Tier-II) - (SBI, UTI, ICICI, RELIANCE, KOTAK): 14-Dec-09, (LIC): 12-Aug-13, (HDFC PF): 1-Aug-13

18
x. Performance of NPS Schemes of Central Government & State Government
Employees

Table No: 14. Performance: Scheme CG (As on January 31st, 2017)*

SCHEME CG

PFM Financial Year Return (%) Trailing Return (%) (As on 31st January, 2017)
1-yr
Benc
FY FY FY FY FY FY FY 3 6
hmar
2009- 201 201 2012- 201 2014- 201 Mont Month 1-Yr 2-Yr 3-Yr 5-Yr
k
10 0-11 1-12 13 3-14 15 5-16 hs s
Retur
n (%)
LIC 12.27 8.3 5.8 12.06 5.93 18.96 5.99 2.16 5.74 16.43 9.68 13.64 11.22

SBI 8.88 8.05 5.81 12.75 3.92 19.38 6.47 2.24 5.72 16.41 9.98 13.86 11.13 15.86

UTI 9.27 8.45 5.52 12.26 5.04 18.58 6.24 2.03 5.60 16.39 9.82 13.55 11.10

Table No: 15. Performance: Scheme SG (As on January 31st, 2017)*

Scheme SG

Financial Year return (%) Trailing Return (%) (As on 31st January,2017)
PFM FY FY FY FY FY FY 1-yr
3 6
2010- 2011- 2012- 2013- 2014- 2015- 1-Yr 2-Yr 3-Yr 5-Yr Benchmark
Months Months
11 12 13 14 15 16 Return (%)

LIC 10.77 6.68 12.8 5.87 19.4 5.97 2.19 5.80 16.57 9.77 13.78 11.48

SBI 9.88 6.8 13 3.83 19.8 6.62 2.35 5.95 16.85 10.19 14.14 11.38 15.86

UTI 11.34 6.04 13.2 4.7 18.8 6.3 2.07 5.63 16.54 9.91 13.65 11.28

19
xi. Performance of NPS schemes for Unorganized/Private Sector

Table No: 16. Performance: Scheme E- Tier I (As on January 31st, 2017)*

Scheme E- Tier I
Financial Year Return % Trailing Return (%) (As on 31st January,2017)
1-yr
Benc
PFM FY FY FY FY FY 3 6
FY hmar
2010 2011- 2012 2013- 2015- Mont Mont 1-Yr 2-Yr 3-Yr 5-Yr
2014-15 k
-11 12 -13 14 16 hs hs
Retur
n (%)
LIC 27.51 -7.91 -0.60 0.77 17.78 0.72 12.96 -
SBI 8.05 -7.18 8.24 20.68 28.37 -7.16 -0.78 0.64 17.85 1.34 14.39 12.98
UTI 8.35 -10.6 7.42 21.29 29.74 -6.72 -1.91 -0.80 18.01 2.03 14.62 13.26
ICICI 11.8 -7.75 9.05 21.18 28.65 -7.37 -0.15 0.54 17.70 0.93 14.23 12.81
11.5 15.21
KOTAK 11.9 -10.2 19.48 28.41 -6.88 -0.61 0.98 18.07 1.68 14.66 13.28
2
RELIANC
10.8 -10.5 7.75 20.2 28.3 -7.26 -1.07 -0.18 14.67 0.30 13.70 12.41
E
HDFC - - - - 28.63 -7.47 -0.69 1.66 18.58 1.36 14.56 -
IDFC 8.89 -9.32 - - - - - - - - - -

Table No: 17. Performance: Scheme E- Tier-II (As on Jan 31st, 2017)*

Scheme E- Tier II
Financial Year Return % Trailing Return (%) (As on 31st January,2017)

1-yr
PFM FY FY FY FY FY FY 3 6
Benchm
2010- 2011- 2012- 2013- 2014- 2015 Mont Mont 1-Yr 2-Yr 3-Yr 5-Yr
ark
11 12 13 14 15 -16 hs hs
Return

LIC 21.46 -7.29 -1.07 1.44 18.70 1.60 9.39 -

SBI 7.86 -7.51 8.26 20.37 28.64 -7.13 -0.98 0.48 17.58 1.25 14.46 12.92
-
UTI 10.16 7.63 20.51 31.04 -6.54 -0.99 -0.38 16.68 1.68 14.84 13.20
10.74
-
ICICI 10.12 9.79 21.14 28.66 -7.39 -0.15 0.53 17.61 0.90 14.20 12.83
10.41 15.21
KOTAK 11.66 -9.8 11.33 19.5 28.12 -6.67 -0.57 0.93 17.71 1.67 14.56 13.17
RELIANC -
5.37 7.79 20.67 28.25 -7.22 -0.86 -0.27 14.81 0.28 13.81 12.48
E 10.37
HDFC - - - - 22.77 -7.17 -0.78 1.73 19.02 2.02 10.62 -
IDFC 7.05 -9.46 - - - - - - - - - -

20
Table No: 18. Performance: Scheme C- Tier I (As on January 31st 2017)*

Scheme C- Tier I
Financial Year Return % Trailing Return (%) (As on 31st Januaryr,2017)

1-yr
PFM FY FY FY FY FY FY 3 6
Bench
2010- 2011- 2012- 2013- 2014- 2015- Mont Month 1-Yr 2-Yr 3-Yr 5-Yr
mark
11 12 13 14 15 16 hs s
Return

LIC 15.43 15.43 2.80 6.38 13.97 11.53 12.90

SBI 12.66 11.07 14.27 5.24 15.7 8.72 2.91 6.65 14.36 10.88 12.86 11.61
UTI 9.2 10.19 13.41 6.14 15.09 8.83 2.91 6.50 14.25 11.00 12.67 11.24
ICICI 9.41 11.43 14.22 6.22 15.72 9.77 3.13 7.10 14.97 11.78 13.35 11.95
15.64
KOTAK 10.86 10.19 15.01 5.77 15.22 9.46 3.19 7.24 15.20 11.60 13.22 11.48
RELIAN
8.12 8.13 13.89 6.89 15.04 9.12 3.06 6.91 14.59 11.09 12.87 11.61
CE
HDFC - - - - 15.2 15.2 2.87 6.71 14.17 11.24 12.87 12.51
IDFC 6.26 9.15 - - - - - - - - - -

Table No: 19.Performance: Scheme C- Tier II (As on January 31st 2017)*

Scheme C- Tier II
Financial Year Return % Trailing Return (%) (As on January 31st 2017)

1-yr
PFM FY FY FY FY FY FY 3 6
Bench
2010- 2011- 2012- 2013 2014- 2015- Mont Mont 1-Yr 2-Yr 3-Yr 5-Yr
mark
11 12 13 -14 15 16 hs hs
Return

LIC 12.37 8.26 2.82 6.37 14.80 12.42 11.81

SBI 14.46 10.7 12.69 4.15 15.62 8.6 2.92 6.75 14.20 10.92 12.74
UTI 7.62 11.4 12.95 5.75 15.3 8.57 2.78 6.23 13.86 10.70 12.52
ICICI 10.74 12.3 13.6 6.1 15.91 9.46 3.17 7.02 14.60 11.60 13.25
15.64
KOTAK 7.2 9.7 13.15 5.76 15.19 8.61 3.28 7.42 14.99 11.18 12.84
RELIANC
7.28 7.86 12 6.04 14.97 8.8 2.88 6.46 14.11 10.78 12.60
E
HDFC - - - - 9.51 8.94 3.01 6.98 14.73 11.77 10.82
IDFC 6.02 10 - - - - - - - -

21
Table No: 20. Performance Scheme G- Tier I (As on January 31st 2017)*

Scheme G- Tier I
Financial Year Return % Trailing Return (%) (As on January 31st 2017)

1-yr
PFM FY FY FY FY FY FY 3 6
Bench
2010 2011 2012 2013 2014 2015 Month Month 1-Yr 2-Yr 3-Yr 5-Yr
mark
-11 -12 -13 -14 -15 -16 s s
Return

LIC 20.93 6.5 2.99 6.91 18.90 10.99 14.91

12.2
SBI 5.46 13.48 0.23 20.73 7.16 2.35 6.35 18.54 10.89 14.70 10.95
5
12.5
UTI 3.75 13.57 0.93 20.18 7.16 2.28 6.14 17.42 10.70 14.35 10.86
2
ICICI 7.71 6.07 13.84 1.51 20.75 6.97 2.24 6.23 18.37 10.85 14.58 11.27
16.61
KOTAK 9.14 6.14 13.61 0.84 19.63 7.54 2.36 6.36 19.51 11.54 14.65 11.04
RELIANC
7.65 5.63 13.74 0.89 20.24 7.22 2.36 6.37 18.91 11.05 14.62 11.12
E
HDFC - - - - 19.88 6.77 2.32 6.14 18.19 10.70 14.22 -
IDFC 6.97 5.9 - - - - - - - - - -

Table No: 21. Performance Scheme G- Tier II (As on January 31st 2017)*
Scheme G- Tier II
Financial Year Return % Trailing Return (%) (As on As on January 31st 2017)
1-yr
PFM FY FY FY FY FY FY 3 6 Bench
2010- 2011 2012- 2013 2014 2015 Mont Month 1-Yr 2-Yr 3-Yr 5-Yr mark
11 -12 13 -14 -15 -16 hs s Retur
n
LIC 19.94 6.75 3.22 7.07 18.56 10.88 14.41
SBI 11.82 5.31 13.47 0.39 20.57 7.28 2.44 6.46 18.66 11.02 14.79 10.98
UTI 16.44 3.81 13.52 0.51 20.27 7.28 2.25 6.10 17.71 10.78 14.49 10.81
ICICI 6.43 6.36 14.36 1.12 20.7 7.05 2.26 6.25 18.32 10.87 14.56 11.33
KOTAK 6.4 5.37 12.86 1.18 19.9 7.66 2.51 6.43 18.32 11.31 14.57 11.00 16.61
RELIANC
4.68 5.76 13.68 0.87 20.44 7.37 2.15 6.15 18.64 11.02 14.63 11.12
E
HDFC - - - 19.45 6.83 2.33 6.14 18.26 10.74 13.99
IDFC 6 7.22 - - - -

22
Table No: 22. Performance: Scheme NPS -Lite (As on January 31st 2017)*
Scheme NPS-Lite
FY Return % Trailing Return (%) (As on January 31st 2017)

PFM FY FY FY FY FY 1-yr
3 6
2011- 2012- 2013- 2014- 2015- Months Months
1-Yr 2-Yr 3-Yr 5-Yr Benchmark
12 13 14 15 16 Return

LIC 10.1 13.02 5.91 19.52 5.72 2.35 6.02 16.81 9.70 13.88 11.57
SBI 8.7 13.83 4.11 19.52 6.3 2.27 5.87 16.82 9.89 13.89 11.40
15.86
UTI 8.55 13.18 4.9 19.2 5.83 1.87 5.40 16.35 9.48 13.63 11.35
KOTAK 14.58 5.18 19.23 6.37 2.29 5.49 15.76 9.62 13.73 11.64

Table No: 23. Performance: Scheme Corporate- CG (As on January 31st 2017)*

Scheme Corporate CG
FY Return % Trailing Return (%) (As on January 31st 2017)

PFM FY FY 1-yr
FY
2013- 2014- 3 Months 6 Months 1-Yr 2-Yr 3-Yr 5-Yr Benchmark
2015-16 Return
14 15

LIC 5.63 19.53 5.72 2.20 5.93 17.59 10.00 14.11 -

15.86
SBI 3.31 19.99 6.54 2.35 6.07 17.03 10.17 14.22 -
*Source: NPST. Website: www.npst.org.in

23
Section 3: Circulars/Notices/Guidelines Issued

CIRCULARS

i) Circular on operationalization of Karvy Computershare Private Limited as second Central

Recordkeeping Agency (CRA) for NPS Regular/NPS Lite/APY (PFRDA/2017/1/CRA/1). Dated 03rd
Jan, 2017

Karvy Computershare Private Limited has been selected as second Central Recordkeeping Agency
(CRA) for NPS. With operationalization by Karvy, there will be two CRAs operating in the NPS system
under PFRDA (Central Record Keeping Agency) Regulations, 2015 i.e. NSD e-governance
infrastructure Ltd and Karvy Computershare Private Limited.
As per the applicable CRA regulations, the choice of CRA can be made by the employer (existing or
prospective) between the existing CRA and new CRA depending on the policy of the employer in case
where there is employee-employer relationship. In case of voluntary subscribers (without existing of
employer-employee relationship) the option to choose a CRA rests with the subscriber. In case of
Government Sector subscribers and subscriber registered under Atal Pension Yojana, the respective
government will choose the CRA for rendering the services. In case of NPS-Lite subscribers, the
aggregator will have the option to choose the CRA.
The charge structure of Karvy-CRA for NPS regular and NPS Lite subscribers as accepted by PFRDA
is as under:

Sr.no. Service Charge Head NPS Regular (Rs.) NPS Lite/APY(Rs.)

1 PRA opening charges 39.36 15
2 PRA annual maintenance charges 57.63 14.4
3 Transaction charges 3.36 -

ii) Circular on discontinuance of acceptance of any third party contribution in Tier II account
under NPS (PFRDA/2017/PD/1) Dated 13th Jan,2017.

i. Tier II account under NPS is a voluntary Savings account which may be opened along with Tier II
account under NPS or may be activated by the Tier I account holder on later date. PAN is mandatory
for opening Tier II account.
ii. Keeping in view the nature of the Tier II account and facility of any time withdrawal, it has been
decided to disallow ant third party contribution in Tier II account henceforth.

24
iii. All the nodal offices/ Point-of Presence are here by advised to ensure that NPS contributions
being made by the subscriber to his/her Tier II account is being made from his/her own bank account
and through his own legitimate source of funds.
iv. CRA and nodal offices /POPs are advised to take the following declaration from the subscriber
while accepting contribution from Tier II account. I hereby declare that I am the bona fide subscriber
of NPS and the contribution being paid for this transaction for Tier II is from my own bank account and
through my legitimate source of funds.
This declaration may be inserted in the NPS Contribution Instruction Slip (NCIS) or on online platform
provided by the POPs and also on eNPS platform.
In case if the contribution is being made directly through the subscribers bank account, the above
declaration may not be insisted upon.
v. All concerned are advised to take note of the same for compliance.

iii. Report on APY- Fortune 100 (26th Dec- 31st Dec 2016)

Extraordinary Performers
1. PFRDA congratulates the branches of Banks and Department of Post for their overwhelming
support towards building old age income security in the Country where pension less population is
huge.
2. APY- Fortune 100 has mobilized more than 1, 35,183 accounts which is highest in any campaign
till date and 441 branches have sourced more than 100 accounts.
3. PFRDA wishes to thank all the staff members of these branches, nodal officers, respective
Regional/Zonal Managers and CGM/GM/DGM at HO for their unprecedented support and motivation
to perform better and be the Best.
4. Banks/DOPs are advised to ensure the accounts sourced are funded immediately.

25
Section 4: Training/ Workshops /Conference conducted
PFRDA conducts workshops on (4th Jan, 2017)
i) APY Service Fortnight 01-Feb-2017 to 14-Feb-2017
The APY was launched by Honorable Prime Minister of India on 09th May, 2015 and became
operational from 1st June, 2015. APY is available for all citizens of India in the age group of 18-40
years. Under the APY, the subscribers would receive a minimum guaranteed pension of Rs. 1000 to
Rs. 5000 per month from the age of 60 years, depending on their contributions, which depends on the
age of the subscriber at the time of joining the APY. The Same amount of pension is paid to the
spouse in case of subscribers demise. After the demise of both i.e. Subscriber & Spouse, the
nominee would be paid the pension corpus. Option for Spouse to continue to contribute for balance
period on premature death of subscriber before 60 years, so as to avail pension by Spouse. There are
tax benefits at entry, accumulation and pension payment phases. If the actual returns on the pension
contributions during the accumulation phase are higher than the assumed returns for the minimum
guaranteed pension, such excess returns are passed on to the subscriber, resulting in enhanced
scheme benefits.
There are more than 41 lakhs subscribers registered in the scheme till date.
With a view to promote and create awareness about the Atal Pension Yojana (APY) and improve the
quality of service provided to the subscribers, PFRDA has decided to organize APY Service Fortnight
from 1st February to 14th February 2017 by all the functionaries in the APY value chain across the
country.
PFRDA seeks an active cooperation and involvement of all the APY service providersBanks, Central
Recordkeeping Agency etc. during the APY Service fortnight.
The following activities are to be undertaken by the APY service providers during the APY Service
Fortnight from 1st February to 14th February 2017:

Display of APY publicity materials-Posters and banners in the vicinity of the APY Service Provider
branch. Distribution of publicity materials- APY Flyers / brochures to the prospective subscribers.

Updation of subscriber contact details like mobile number, email id, address etc. in their PRAN.

Updation of nominee details in APY account.

Collection of pending APY contributions.

Funding the zero balance APY accounts, if any.

Resolution of subscribers grievances.

26
 Aadhaar Seeding of subscribers APY accounts (In view of inclusion of APY under the DBT
Scheme).

Upgradation/Down gradation of Pension amount by subscribers in their APY Accounts.

Modification/Correction of Date of Birth in APY accounts wherever necessary PFRDA had offered
capacity building assistance for Staffs/BCs of the banks and other promotional material assistance as
well. Till date more than One Lakh Bankers and Post Office officials have been trained for APY and
this exercise of PFRDA is an on-going activity. The APY scheme is being implemented through 235
APY-Service Providers all over the country consisting of 27 Public Sector banks, 19 private banks, 1
foreign bank, 56 regional rural banks, 109 district cooperative banks, 16 state cooperative banks, 6
urban cooperative banks and the department of posts.
ii) PFRDA conducts workshop on NPS for Corporates in coordination with FICCI at Mumbai (Dated
24-Jan-2017)
PFRDA in its endeavor to promote NPS among corporates has embarked upon conducting NPS
workshops at various locations across the country. In this regard, a Corporate meet was conducted at
Mumbai on 18th January 2017 in association with FICCI, Maharashtra State Council.
2. Shri Hemant G Contractor, Chairman, PFRDA in his key address outlined the role and objectives of
PFRDA and informed that in the changing demographic profile of the country, planning for pension has
become vital for everyone, more so as unlike other developed countries, the percentage of working
population is very high in the unorganized sector and this workforce is not covered by any pension
scheme. National Pension System (NPS) provides a platform to every segment of the society for
savings for retirement. He also spoke on the salient features of NPS.
Shri Sunil Shanghai, Chairman, FICCI Capital Market Committee and Head of Investment Banking,
HSBC India in his welcome address lauded the efforts of PFRDA for organizing such meetings across
the country and creating awareness about NPS, which can assist corporates in providing pension to
their employees.
Shri A G Das, Chief General Manager, PFRDA requested the participants to utilize this meet for better
understanding of NPS and implementing the same in their respective organizations.

27
3. More than 160 participants attended the workshop. Maharashtra based POPs were also present for
the workshop. PFRDA officials gave a detailed presentation on NPS and informed the participants
about the features, benefits and the process of joining NPS to the employees as well as to the
employer. Presentation on operational aspects of NPS was given by Central Record Keeping Agency
(NSDL e-Governance Infrastructure Limited). Official of HDFC Pension Management Company
Limited spoke on the role of the Pension Funds under NPS architecture. An official of KPMG India
made a presentation on Tax benefits under NPS and other financial products.
4. PFRDA officials answered the queries regarding entry into NPS, tax benefits, POPs details,
timelines, transfer of superannuation fund to NPS, annuity etc to the participants.
5. The recent developments under NPS-Private Sector (All citizen and Corporate) are listed below:
i. Dispensing of requirement of submission of physical application form in case of subscriber opening
account online and e-Signing the document.
ii. Introduction of Alternative Investment Fund-a separate class of Asset A
iii. Introduction of two new life cycle funds (LC 75 and LC 25)
iv. Option to change the investment choice or asset classes twice in a financial year
v. Under Tier-I account, minimum contribution requirement in a financial year is reduced from Rs
6,000/- to Rs 1,000/-
6. As on 17th January 2017, more than 5.54 lacs employees of 3014 registered corporates have
joined NPS under NPS Corporate Model and the Asset under Management (AUM) for this segment is
more than Rs. 13,500 Crores. More than 3.12 lac subscribers have joined NPS under NPS-All Citizen
Model and the AUM of this segment is more than Rs. 2030 crores. As on 17th January 2017, the
overall number of NPS and APY subscribers has crossed 1.42 Crores with Asset under Management
(AUM) of Rs. 1, 61,000 Crores.
PFRDAs endeavor is to significantly scale up these segments during the ongoing months.

28
Section 5: Macro-Economic Statistics

As on 30th As on 31st Absolute Percentage

Indicators Units
Dec,2016 Jan,2017 Change Change
5= Col 4- 6= {Col 5/Col
1 2 3 4
Col 3 3} *100
S&P BSE Sensex - 26,626.46 27,655.96 1029.50 3.87
CNX Nifty - 8185.8 8561.3 375.5 4.59
Rs/$ - 67.95 67.81 (-)0.14 (-)0.20
Rs/ 10
Gold
gm
27,445 28,825 1,380 5.03
Brent Crude $/barrel 56.82 55.7 (-)1.12 (-)1.97
Whole Price Index ON BASE 2004-
- 182.8 184.6 1.8 5.25 (Y-o-Y)
05=100
Consumer Price Index ON BASE
- 130.4 130.3 (-)0.1 3.17 (Y-o-Y)
2012=100

Index of Industrial Production ON

- 175.8 183.5 7.7 (-)0.4 (Y-o-Y)
BASE 2004-05=100

10 year G-Sec Yield % p.a 6.52 6.41 (-)0.11

USD in
Foreign Exchange Reserve 360.3 361.56 1.26 0.35
bn
Rs.
Net FPI/FII(Equity) (Rs. crore) (-)8176.29 (-)1176.6 6999.69 (-)85.61
Crore
Rs.
Net FPI/FII (Debt) (-)18935.17 (-)2319.19 16615.98 (-)87.75
Crore
Rs.
Net FII (Total) (-)27111.46 (-)3495.79 23615.67 (-)87.11
Crore
* Figures of December & January, 2017

Source: BSE, NSE, RBI, CSO, SEBI

India SENSEX increased 1029.50 points or 3.87% to 27,655.96 on 31st January 2017 from
26,626.46 as end of December 2016.
Nifty 50 closed at 8561.3 as on 31st January, 2017. Nifty increased 0.046% during the month of
January, 2017.
Gold Price increased from Rs 27,445 as end of December 2016 to Rs. 28,825 as end of January,
2017.
Brent crude oil decreased -1.12 USD/BBL or -1.97 % to 55.7 on 31st January, 2017 from 56.82 in
the previous month (December 2016).
India's consumer price index was 3.17 percent higher in January, 2017 compared with January
2016.

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 The annual rate of inflation, based on monthly WPI, stood at 5.25% (provisional) for the month of
January, 2017 (over January, 2016) as compared to 3.39% (provisional) for the previous month
and -1.07% during the corresponding month of the previous year.
The General Index for the month of December 2016 stands at 183.5, which is 0.4 percent lower
as compared to the level in the month of December 2015. The cumulative growth for the period
April-December 2016 over the corresponding period of the previous year stands at 0.3 percent.

The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the
month of December 2016 stand at 144.5, 189.3 and 194.7 respectively, with the corresponding
growth rates of 5.2 percent, (-) 2.0 percent and 6.3 percent as compared to December 2015 . The
cumulative growth in these three sectors during April-December 2016 over the corresponding
period of 2015 has been 0.9 percent, (-) 0.5 percent and 5.1 percent respectively

India Government Bond 10Y decreased 9 bps to 6.41 on 31st January, 2017 from 6.52 in the
previous month.
There was net outflow of Rs. -3495.79 crore foreign portfolio investments in India in the month of
January, 2017, against the outflow of Rs -27111.46 crore in the month of December, 2016.
Foreign Exchange Reserves in India increased 1.26 USD Billion or 0.35 % to 361.56 USD
Billion on 31st January, 2017 from 360.3 USD Billion in December 2016.
US Dollar to Indian Rupee Exchange Rate is at a current level of 67.81, low from 67.95, the
previous market month
**********

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