National Pension System (NPS) has achieved a significant milestone in FY2024–25, with private sector subscriber enrolment crossing the 12 lakh mark.
This remarkable growth highlights the increasing adoption of NPS among private sector employees, driven by its robust framework and attractive benefits.
The Pension Fund Regulatory and Development Authority (PFRDA) has emphasized the importance of expanding pension coverage to ensure financial security for India’s aging population.
NPS Subscriber Growth and Total Numbers
During FY25, the private sector added over 12 lakh new subscribers to the NPS, bringing the total number of subscribers to over 165 lakh by March 2025.
This growth reflects the rising awareness and trust in the NPS as a reliable retirement planning tool.
The introduction of innovative schemes, such as NPS Vatsalya—a program specifically designed for minors—has further contributed to this expansion.
Launched in September 2024, National Pension Scheme Vatsalya alone registered over one lakh subscribers.
Assets Under Management (AUM) for NPS
The assets under management (AUM) for both NPS and the Atal Pension Yojana (APY) witnessed a 23% increase during FY25, reaching ₹14.43 lakh crore by the end of March 2025.
This growth underscores the financial sustainability and effectiveness of these pension schemes in addressing the long-term needs of subscribers.
The accumulated corpus of ₹14.4 lakh crore positions National Pension Scheme as a cornerstone of India’s pension sector.
Unified Pension Scheme (UPS) and Future Outlook
In addition to the NPS, the government introduced the Unified Pension Scheme (UPS) in April 2025 to provide enhanced financial security for central government employees.
The UPS offers a fixed pension equal to 50% of the average basic salary from the last 12 months before retirement for employees with at least 25 years of service.
This hybrid model combines features of the Old Pension Scheme (OPS) and NPS, catering to employees seeking stable post-retirement income.
The PFRDA has reiterated its commitment to expanding pension coverage and building a pension-inclusive society.
Chairman Deepak Mohanty emphasized the need for policy actions to make “Pension for All” a national priority.”
Deepak, “With targeted initiatives and innovative schemes, the NPS is poised to attract even more subscribers in the coming years, further strengthening India’s pension framework.
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