Pension 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.
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%.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
