ET Graphics: Women and transgender subscribers expand India’s NPS footprint

As the government sets up an expert panel to review the National Pension System (NPS) investment framework, the scheme’s subscriber base is increasingly being powered by women.

Female subscriptions rose faster than those of men across several states, with Karnataka, Maharashtra, Tamil Nadu, Uttar Pradesh and Andhra Pradesh leading in overall female subscribers in 2024-25.

While a few regions saw a dip in women’s enrolments, the broader trend indicates widening participation and inclusion, also reflected in the steady rise in NPS subscriptions among transgender individuals. Anoushka Sawhney takes a look: