NPS subscribers grow 22.88% y-o-y to 624.81 lakh

New Delhi/IBNS: The National Pension System (NPS) has witnessed a significant surge in its subscriber base over the past year, with the number of subscribers under various schemes rising to 624.81 lakh as of March 4, 2023, the Ministry of Finance said on Friday.

IBNS • 11 Mar 2023, 02:10 am

This marks a Y-o-Y increase of 22.88%, up from 508.47 lakh in March 2022.

The rise in NPS subscribers comes as a positive sign for the government-backed retirement scheme, indicating a growing awareness and interest in long-term financial planning among Indians, the ministry said.

As on March 4, 2023, total pension assets under management (AUM) stood at Rs. 8.82 Lakh crore showing a Y-o-Y growth of 23.45%.