Private Sector Subscribers Under NPS Cross Over 12 Lakh In FY25

2025-04-23 12:30:16

(MENAFN- IANS) New Delhi, April 23 (IANS) The National Pension System (NPS) has achieved significant growth of private sector subscriber enrolment of over 12 lakh during 2024-25, taking total subscriber number to over 165 lakh by March 2025, according to the government.

NPS Vatsalya , a scheme specifically designed for minors, introduced in September 2024 has registered over one lakh subscribers, according to a Ministry of Finance statement.

The assets under management (AUM) for both NPS and Atal Pension Yojana (APY) expanded by 23 per cent during 2024-25 to Rs 14.43 lakh crore by end-March 2025.

NPS has emerged as a cornerstone of India's pension sector with an accumulated corpus of Rs 14.4 lakh crore and 8.4 crore subscribers under NPS and the Atal Pension Yojana (APY), PFRDA chairman Deepak Mohanty said earlier this month.

Mohanty said the focus of the pension system remains on expanding coverage, ensuring financial sustainability, and building a pension-inclusive society for future generations.

'Pension for All' must become a national priority, requiring policy action to ensure a dignified and secure future for our aging population.

Unified Pension Scheme set to roll out from April 1, to benefit 23 lakh employees

Meanwhile, central government employees with at least 25 years of service are now eligible for a fixed pension equal to 50 per cent of their average basic salary from the last 12 months before retirement under the new Unified Pension Scheme (UPS).

The government introduced the UPS to offer more financial security after retirement to at least 23 lakh Central government employees, particularly for those who prefer a stable and predictable income instead of a market-linked pension.

Employees, who have served for more than 10 years but less than 25 years, will receive a minimum pension of Rs 10,000 per month. In case of the pensioner's death, their family will be entitled to 60 per cent of the last pension drawn as a family pension.

Central government employees, currently under the NPS, will have the option to switch to the UPS. The scheme is designed as a hybrid model, incorporating features from both the Old Pension Scheme (OPS) and the NPS.

-IANS

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