Awareness about pension has increased significantly among the citizens of our country. The Government of India has recently touched a milestone. The Finance Ministry said on Thursday that the total assets under management (AUM) of the National Pension System (NPS) and Atal Pension Yojana (APY) have now crossed the Rs 16 lakh crore mark. Furthermore, the subscriber base of these two flagship schemes has also crossed 9 crore. The statement said, “This is an important milestone in the country’s pension journey. Together, NPS and APY have covered more than 9 crore people.”

New NPS Platform

The Pension Fund Regulatory and Development Authority (PFRDA) has implemented several major reforms in recent months to further strengthen pension coverage and inclusion. The Multiple Scheme Framework, effective October 1, 2025, provides investors with greater investment choices. Additionally, the new NPS Platform Workers Model will now cover gig workers and those in the unorganized sector. Furthermore, the PFRDA has issued a consultation paper for major changes to the NPS, including graded payouts and flexible annuity options to further secure individuals’ income after retirement.

Why pension is important

PFRDA stated that the focus is now on providing pension security to people in the rural and informal sectors. To this end, awareness campaigns are being conducted among farmers, MSME workers, self-help groups (SHGs), and unorganized labor. The ministry said, “This achievement demonstrates that PFRDA is committed to inclusion, resilience, and long-term financial security.”

Crossing the ₹16 lakh crore mark for NPS and APY is not just a financial achievement, but also a sign of growing awareness of retirement planning among the country’s citizens. It demonstrates that Indian families are now investing not just for today, but also for the security of their elderly tomorrow.

The government recently informed Parliament that 1.3 lakh minors have been enrolled under the NPS Vatsalya scheme so far. Minister of State for Finance Pankaj Chaudhary stated in a written reply in the Lok Sabha that between September 2024 and August 3, 2025, 130,000 minor subscribers were registered under NPS Vatsalya.