On December 13, the Ministry of Finance shared data available under the National Pension Scheme (NPS) of the number of subscribers, amount of contributions and Assets Under Management (AUM) in the Central and State-wise details.
The Minister of State in the Ministry of Finance, Dr Bhagwat Karad made this information public in writing as a reply to a query in the Rajya Sabha. It is a detailed break-up of the Central and State-wise Corpus under NPS.
Please find the said information in the image shared below:
Total AUM of State Government Employees under NPS
Total AUM of Central Government Employees under NPS
Refund Request from States
Himachal Pradesh, Chhattisgarh, Punjab, Jharkhand and Rajasthan have requested the Centre to refund whatever amount of employees is stored in the NPS because they have decided to restore the Old Pension Scheme.
Dr Karad said “The State Governments of Rajasthan and Chhattisgarh along with the State Government of Jharkhand have sent a proposal to the Central Government/PFRDA to return the accumulated corpus of subscribers under the National Pension System (NPS). However, no such proposal has been received from the State Government of Punjab.”
PFRDA rejects demand
However, Pension Fund Regulatory and Development Authority (PFRDA) put light on the fact that there is no provision for refund of employees’ corpus to the State Government.
“PFRDA has informed the respective State Governments that there is no provision under Pension Fund Regulatory and Development Authority Act, 2013 read along with PFRDA (Exits and Withdrawals under the National Pension System) Regulations, 2015, and other relevant Regulations, as amended from time to time, vide which the funds, which are already deposited both in the form of Government contribution and Employees’ contribution towards NPS, along with accruals, can be refunded and deposited back to the State Government,” Dr Karad said.