The Nationwide Pension Scheme (NPS) is predicted so as to add 13 lakh new subscribers within the present monetary 12 months, PFRDA chairman Deepak Mohanty mentioned on Friday. The variety of new subscribers underneath the NPS was over 10 lakh final 12 months, he mentioned.
“The onboarding by the company is giant, however the take up by the workers is much less,” Mohanty mentioned in an interplay with the media. The subscription by company entities witnessed round 31 p.c development on a 12 months on 12 months foundation.
As of July 1 2023, the variety of subscribers underneath numerous schemes underneath the Nationwide Pension system stood at 6.5 crore, exhibiting a rise of round 20 p.c on a year-on-year foundation. Out of this, 1.3 crore subscribers have been underneath the nationwide pension scheme.
The overall pension belongings underneath administration stood at Rs. 9.7 trillion, as on July 1 2023, which is round 30 p.c development on a year-on-year foundation. “The corpus up to now is rising considerably, we’re simply shy of Rs. 10 lakh crore (10 trillion),” Mohanty mentioned. “The corpus is round 9.8 trillion together with each APY [Atal Pension Yojana] and NPS.”
The chairman mentioned that the low value makes the Nationwide Pension Scheme engaging. He additionally highlighted {that a} systematic withdrawal plan shall be rolled out in October. Underneath the plan, Nationwide Pension Scheme subscribers can be allowed to withdraw systematically 60% of their contributions post-retirement as much as the age of 75 as an alternative of the present system of one-time withdrawal.
First Printed: Jul 08 2023 | 12:12 AM IST
