The Assets Under Management (AUM) of National Pension System (NPS) stands at Rs 4.94 lakh crore as on September 30, 2020, as compared to Rs 3.71 lakh crore at the end of September, 2019, thereby recording an overall growth (YoY) of 33.3 per cent .
According to th Economic Survey- 2020-21, presented by finance minister Nirmala Sitharamanmaximum on Friday in Parliament. in NPS, growth was registered by All-Citzen model/ UoS (52.3 per cent) followed by Atal Pension Yojana (APY) (46.1 per cent), Corporate Sector (34.8 per cent) and State Govt. Sector (30.7 per cent).
The maximum growth was recorded under APY i.e. 49.2 per cent over the year, followed by All-Citizen/UoS (45.8 per cent), Corporate Sector (39.6 per cent) and State Government Sector (33.9 per cent)
PFRDA has introduced Corporate National Pension System model (under existing All Citizen of India Model (i.e. commonly known as “UOS NPS model”)) where-in corporates can get itself register under the system with CRA (Central Recordkeeping Agency) through the recognized Point of Presence (POP).
In view of COVID-19, various regulatory measures by the PFRDA were taken, including:
• Issuance of an advisory for extension of timelines for submission of various compliance by the Pension Funds and Custodian.
• Extension of time limit by one month (i.e. up to 30.06.2020) for submission of annual accounts and other annual MIS due to Covid-19 for all Pension Funds, Custodian, and NPS Trust.
• The partial withdrawal from NPS has been allowed for treatment of COVID-19.
• The online functionality on NPS on-boarding through Aadhaar-based offline paperless
• Online registration of APY subscribers through Bank’s own web-portal, without using
net-banking by their Savings Bank Customers.