NPS: National Pension System and Atal Pension Yojana are setting records, AUM reaches this much..
The National Pension System (NPS) was launched in 2004 to provide a lifelong pension to government employees. Subsequently, the Swavalamban Yojana (Swavalamban Yojana) was launched in 2010-11 to provide a pension to workers in the unorganized sector. This was relaunched in 2025 as the Atal Pension Yojana (APY). The total assets under management (AUM) of these two schemes have crossed ₹16 lakh crore, the Finance Ministry announced on Thursday. The number of subscribers for these two major pension schemes has also exceeded 90 million.
A significant milestone in the pension journey
The Finance Ministry stated, "This is a significant milestone in India's pension journey, as the number of subscribers has exceeded 90 million." It is noteworthy that the Pension Fund Regulatory and Development Authority (PFRDA) has taken several significant steps to further strengthen the NPS and make pensions accessible to more people. One of these is the Multiple Scheme Framework (MSF), which will come into effect from October 1, 2025. This will provide more investment options to people.
Gig workers will also be covered under NPS.
The ministry further stated, "In addition, the NPS Platform Workers Model has been introduced, which will cover gig workers (such as delivery boys, cab drivers). Additionally, a consultation paper has been issued for major changes to NPS. It proposes to include installment payments and flexible annuity (pension) options to increase the amount received after retirement." Additionally, special campaigns are being run to expand pension coverage to farmers, small and medium enterprises (MSMEs) employees, self-help group (SHG) members, and other unorganized sector members.
PFRDA's Special Focus
This demonstrates PFRDA's continued focus on connecting people, providing flexibility in schemes, and ensuring long-term financial security. The government stated that with this achievement, PFRDA remains committed to its goal of ensuring income security in old age for all Indians.
NPS accounts are also being opened for minors.
NPS accounts are now being opened for minors. NPS Vatsalya has been launched specifically for them. This is a retirement savings plan for young children. It is also receiving a good response. Just last month, the central government informed Parliament that 1.3 lakh minors have been enrolled under the NPS Vatsalya scheme. Minister of State for Finance Pankaj Chaudhary stated in a written reply in the Lok Sabha that 130,000 minor subscribers were added to the NPS Vatsalya scheme from September last year to August 3.
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