SRINAGAR: The total number of subscribers enrolled under the National Pension System (NPS) has reached 2.17 crore as of March this year, with assets under management touching nearly Rs 16 lakh crore, reflecting the growing adoption of pension-based social security schemes across the country.
Regulated by the Pension Fund Regulatory and Development Authority (PFRDA), the NPS is aimed at providing long-term financial security and a steady post-retirement income to citizens.
The Atal Pension Yojana (APY), another key social security initiative, has also recorded significant growth, crossing 8.96 crore enrolments since its launch in May 2015.
The scheme was introduced to create a universal social security framework, particularly for workers in the unorganised sector.
APY is open to individuals between 18 and 40 years of age who hold a savings account with a bank or post office.
Officials said the steady rise in enrolments under both schemes reflects increasing awareness among citizens about the importance of retirement planning and financial security.
