The central government of India provides pension schemes as income security to all citizens. Lately, the National Pension Scheme (NPS) and Atal Pension Yojana (APY) have gathered headlines after their combined subscribers crossed nine crore mark, with assets under management (AUM) of over Rs 16 lakh crore, as of October 9, 2025.

Regulated by the Pension Fund Regulatory and Development Authority (PFRDA), NPS and APY are contributory schemes that come with varying features, return, and taxation benefits.

Let’s explore the difference between NPS and APY pension schemes designed for both employed and unemployed citizens, which may help you make informed decisions.

National Pension Scheme

Launched in 2004, NPS is a low-cost pension scheme designed for all citizens of India that offers benef

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