NPS subscriber base rises 23% to 62.4 million in March 4, shows data

The number of total subscribers under various schemes in the National Pension System (NPS) has increased 22.9 per cent to 62.4 million in March 4 from 50.8 million a year ago.

The all citizen model has seen the highest increase (32 per cent), followed by Atal Pension Yojana (28.4 per cent) and the corporate model (20.2 per cent). The NPS lite, for which registrations closed in April 2015, has, however, contracted 0.3 per cent.  

Besides, the total pension assets under management (AUM) increased by 23.5 per cent to Rs 8.82 trillion in the corresponding period.

The NPS was introduced in April 2004 to replace the erstwhile old pension scheme, which was seen as a major burden on state finances.