Data shows that state government employees constitute almost two-thirds of these new customers.
Among these customers, the number of state government employees is 79,876 while the number of central government employees is 20,000. 10,250 customers from the corporate sector also joined during the month.
Age-based analysis revealed that 43.8 per cent (48,530) of new customers were in the 18-28 age group, who are first-time customers. This also indicates the increase in employment in the economy.
The National Statistics Office released the payroll data compiled on Tuesday after a gap of three months due to the model code of conduct being in place.
Overall, 937,000 subscribers joined the National Pension System during 2023-24, an increase of 13.6 per cent compared to 824,700 new subscribers in 2022-23.
The corporate component of the scheme is voluntary in nature and covers people working in public sector organisations, private limited companies or public sector banks.
The National Pension System, managed by the Pension Fund Regulatory and Development Authority, is being implemented on a contribution basis. Both the subscriber and the employer contribute the same amount to the pension account. It was made mandatory for all new central government employees except the armed forces from 1 January 2004.
Among these customers, the number of state government employees is 79,876 while the number of central government employees is 20,000. 10,250 customers from the corporate sector also joined during the month.
Age-based analysis revealed that 43.8 per cent (48,530) of new customers were in the 18-28 age group, who are first-time customers. This also indicates the increase in employment in the economy.
The National Statistics Office released the payroll data compiled on Tuesday after a gap of three months due to the model code of conduct being in place.
Overall, 937,000 subscribers joined the National Pension System during 2023-24, an increase of 13.6 per cent compared to 824,700 new subscribers in 2022-23.
The corporate component of the scheme is voluntary in nature and covers people working in public sector organisations, private limited companies or public sector banks.
The National Pension System, managed by the Pension Fund Regulatory and Development Authority, is being implemented on a contribution basis. Both the subscriber and the employer contribute the same amount to the pension account. It was made mandatory for all new central government employees except the armed forces from 1 January 2004.
