The National Pension System (NPS) has experienced significant growth in its subscriber base during the fiscal year 2023. As of March 4th, 2023, the number of NPS subscribers climbed to 624.81 lakh, marking a substantial year-on-year increase of 22.88% compared to the previous year. Alongside this subscriber expansion, the total pension assets under management (AUM) also saw robust growth, rising by 23.45% to reach Rs. 8.82 Lakh crore.
624.81 lakh National Pension System (NPS) subscribers, with Y-o-Y growth of 22.88%
Total pension assets under management (AUM) at Rs. 8.82 Lakh crore with Y-o-Y growth of 23.45%
The number of subscribers under various schemes under the National Pension System (NPS) rose to 624.81 lakh as at March 4th 2023 from 508.47 Lakh in March 2022 showing a year- on- year (Y-o-Y) increase of 22.88% (Table 1).
Table 1: Number of Subscribers in various schemes under National Pension System and At
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FAQ :
As of March 4th, 2023, there were 624.81 lakh National Pension System (NPS) subscribers.
The National Pension System (NPS) saw a year-on-year growth of 22.88% in its subscriber base for FY23.
Total pension assets under management (AUM) grew by 23.45% year-on-year in FY23.
As of March 4th, 2023, the total pension assets under management (AUM) for NPS stood at Rs. 8.82 Lakh crore.
The 'All Citizen Model' category experienced the highest subscriber growth at 32.02%, followed closely by Atal Pension Yojana (APY) at 28.46%.
The 'All Citizen Model' category also saw the highest AUM growth at 36.66%, with the Corporate sector following at 35.01%.