NPS has been implemented for all Government Employees (except armed forces) joining Central Govt. on or after 01 January 2004. Most of the State/UT Governments have also notified the National Pension System (NPS) for their new employees. NPS has been made available to every Indian Citizen from 01st May 2009 on a voluntary basis. Further, from 1st June 2015, the Atal Pension Yojana, has been launched which has given the much-required impetus to the social security schemes. Currently, NPS and APY together have more than 6.62 crore subscribers and the total Asset Under Management (AUM) has reached Rs. 10 Trillion (Rs. 10,00,000 crores). The segment wise status of the NPS and APY as on 25.08.2023:
AUM ( In Rs)
All Citizen Model
PFRDA has taken various steps to enhance financial education, empowering subscribers to make well-informed decisions and leverage the advantages of the formal financial sector while maintaining a clear understanding of associated risks and trade-offs.
In pursuit of the objective to promote pension and retirement planning, PFRDA annually celebrates October 1st as "National Pension System Diwas (NPS Diwas)." This initiative contributes to the financial self-sufficiency of Indian citizens in their post-retirement phase. In observance of NPS Diwas this year, PFRDA has a planned a month-long sequence of digital media and publicity initiatives. These endeavors are strategically designed to commemorate NPS Diwas and effectively communicate the importance of pension planning to the subscribers as well as to the general public.