The National Pension System (NPS) may be the focus of attention at present due to several state governments' decision to revert to the old pension system, but its voluntary subscriber base continues to register sharp growth.
Rise in voluntary subscriber base
NPS’s all-citizens-model’s subscriber base – which is open to all Indians looking to save for their retirement– saw a growth of 36.42 percent year-on-year in December 2022.
The corporate model that allows employers to contribute to their employees' retirement corpus, reported a 21.17 percent growth, as per the December 2022 figures released by the Pension Funds Regulatory and Development Authority (PFRDA). The current subscriber bases under the two models stand at 26.52 lakh and 16.24 lakh respectively.