NPS has been implemented for all government employees (except armed forces) joining Central Government on or after January 1, 2004. Most of the State/UT Governments have also notified the NPS for their new employees. NPS has been made available to every Indian Citizen from May 2009 on a voluntary basis.
Further, from June 2015, the Atal Pension Yojana (APY), has been launched which has given the much required impetus to the social security schemes. NPS and APY together have more than one crore subscribers with total Asset Under Management of more than Rs 1 lakh crore.
Meanwhile the retirement fund body EPFO is also in the process of providing facility of filing PF withdrawal claims online with an ultimate aim to process such applications with 24 hours of receiving it.