The combined Assets Under Management (AUM) under the National Pension System (NPS) and Atal Pension Yojana (APY) have crossed the ₹16 lakh crore mark, marking a major milestone in India’s pension landscape. The total subscriber base has also expanded to over 9 crore individuals, reflecting the growing adoption of formal retirement savings in the country.
The Pension Fund Regulatory and Development Authority (PFRDA) credited this achievement to its ongoing efforts to enhance inclusion, flexibility, and long-term financial security. Key initiatives introduced recently include the Multiple Scheme Framework (MSF)—effective from October 1, 2025—which allows subscribers to choose from a wider range of investment options.
Additionally, the NPS Platform Workers Model has been launched to extend pension benefits to gig and platform-based workers, while a Consultation Paper on NPS Overhaul has been issued to propose graded payouts and flexible annuity options aimed at improving retirement adequacy.
PFRDA has also rolled out a targeted outreach campaign to boost coverage among farmers, MSME employees, self-help group (SHG) members, and informal sector workers.
With this milestone, PFRDA reaffirmed its vision of ensuring old-age income security for all Indians, underlining the increasing maturity and depth of India’s pension ecosystem.
