New Delhi, Jul 16 (IANS): The Pension Fund Regulatory and Development Authority (PFRDA) on Friday said its total pension assets under management have crossed the Rs 6.16 lakh crore mark.

Subscribers' contributions under the National Pension System (NPS) and the Atal Pension Yojana (APY) have jointly contributed to this landmark figure.

"As on June 30, 2021, total pension assets under management stood at Rs 6,16,517 crore showing a Y-o-Y growth of 32.67 per cent," the PFRDA said in a statement.

Besides, the number of subscribers in various schemes under the National Pension System rose to 435.36 lakh by end-June 2021 from 350.99 lakh in June 2020, showing a year-on-year increase of 24.04 per cent.

The PFRDA is the statutory authority established by an enactment of Parliament, to regulate, promote and ensure orderly growth of the NPS and pension schemes to which this Act applies.

The NPS was initially notified for the Central government employees recruited from January 1, 2004 and subsequently adopted by almost all the state governments for its employees.

It was later extended to all Indian citizens on a voluntary basis and to corporates for its employees.