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Return to OPS triggers NPS subscriber dip in states, shows NSO data

Only 285,226 new state government employees joined the NPS, as compared to 321,255 subscribers in the corresponding period last year

Shiva Rajora New Delhi

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Photo: Shutterstock

4 min read Last Updated : Jan 30 2023 | 11:57 PM IST

New subscribers added by state governments under the New Pension Scheme (NPS) declined 11 per cent to a four-year low during April-November 2022. This coincides with the announcement by many states to revert to the Old Pension Scheme (OPS).

According to the latest data released by the National Statistical Office (NSO), only 285,226 new state government employees joined the NPS in April-November, compared to 321,255 subscribers in the corresponding period last year.

The number of new state government subscribers joining the scheme this year is the lowest since FY19. It was from FY19 when the NSO started releasing the monthly NPS data as a measure of employment generation in the formal sector.