NPS and APY Assets Cross ₹16 Lakh Crore as Subscriber Base Exceeds 9 Crore

India’s pension ecosystem reached a major milestone as the combined Assets Under Management (AUM) of the National Pension System (NPS) and Atal Pension Yojana (APY) crossed ₹16 lakh crore. 

Alongside this financial achievement, the subscriber base for both schemes has also expanded beyond 9 crore individuals, marking a significant leap in the country’s drive toward universal pension inclusion.

PFRDA’s Strategic Initiatives

The Pension Fund Regulatory and Development Authority (PFRDA) has rolled out a series of strategic measures to strengthen India’s pension architecture and increase participation. Among them is the Multiple Scheme Framework (MSF), which came into effect on 1 October 2025. This framework introduces greater flexibility by offering subscribers an expanded range of investment choices.

PFRDA has also launched the NPS Platform Workers Model, specifically designed to bring gig economy workers, a rapidly growing segment of India’s workforce, under the NPS umbrella. Additionally, the regulator has released a Consultation Paper on NPS Overhaul, proposing graded payouts and flexible annuity options aimed at improving retirement adequacy and long-term financial planning.

Driving Inclusion and Financial Security

To further its mission of inclusive pension coverage, PFRDA has initiated an extensive outreach campaign targeting farmers, MSME employees, Self-Help Group (SHG) members, and other informal sector participants. These efforts underscore the regulator’s focus on creating a pension system that is not only robust but also equitable and accessible to all segments of society.

This milestone highlights PFRDA’s continuous commitment to ensuring that India’s citizens enjoy old-age income security through inclusive, flexible, and sustainable pension solutions.

Read More: Govt Proposes Major Social Security, Pension Benefits for Coal Workers!

Conclusion

The crossing of the ₹16 lakh crore AUM mark by NPS and APY reflects India’s growing pension maturity and the success of policy reforms focused on financial inclusion. With its ongoing initiatives, PFRDA continues to pave the way for a more secure and comprehensive retirement framework for millions of Indians.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.