Private Sector NPS Subscribers Exceed 12 Lakh in FY25
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Synopsis
In FY25, private sector subscribers under the National Pension System surpassed 12 lakh, bringing total subscribers to over 165 lakh. The new Unified Pension Scheme offers enhanced financial security to government employees.
Key Takeaways
- Over 12 lakh private sector NPS subscribers added in FY25.
- NPS Vatsalya scheme for minors has over 1 lakh subscribers.
- Assets under management reached Rs 14.43 lakh crore.
- Unified Pension Scheme benefits 23 lakh central employees.
- Pension for All is a national priority.
New Delhi, April 23 (NationPress) The National Pension System (NPS) has witnessed remarkable growth, with private sector subscriber enrolments surpassing 12 lakh during the fiscal year 2024-25, bringing the total number of subscribers to over 165 lakh by March 2025, as reported by the government.
The NPS Vatsalya scheme, aimed at minors and launched in September 2024, has successfully garnered over one lakh subscribers, according to a statement from the Ministry of Finance.
The assets under management (AUM) for both NPS and the Atal Pension Yojana (APY) surged by 23 percent during the fiscal year 2024-25, reaching Rs 14.43 lakh crore by the end of March 2025.
The NPS has become a fundamental element of India’s pension framework, boasting an accumulated corpus of Rs 14.4 lakh crore and 8.4 crore subscribers under NPS and APY, stated PFRDA chairman Deepak Mohanty earlier this month.
Mohanty emphasized that the pension system's focus is on broadening coverage, ensuring financial sustainability, and fostering a pension-inclusive society for future generations.
‘Pension for All’ is a national imperative, necessitating policy initiatives to secure a dignified future for our aging populace.
A Unified Pension Scheme is set to commence on April 1, benefiting 23 lakh employees.
Moreover, central government employees with a minimum of 25 years of service are now qualified for a fixed pension equivalent to 50 percent of their average basic salary from the last 12 months prior to retirement under the new Unified Pension Scheme (UPS).
The government has initiated the UPS to provide enhanced financial security post-retirement to at least 23 lakh Central government employees, especially those who prefer a stable and reliable income over a market-linked pension.
Employees who have served for over 10 years but less than 25 years will receive a minimum pension of Rs 10,000 per month. In the event of a pensioner's demise, their family will be entitled to 60 percent of the last pension drawn as a family pension.
Central government employees currently enrolled in the NPS will have the opportunity to transition to the UPS. The scheme is designed as a hybrid model, integrating features from both the Old Pension Scheme (OPS) and the NPS.
