With the passage of the Pension Fund Regulatory and Development Authority Bill, 2011 in the Lok Sabha on Wednesday, the National Pension System that boasts of nearly 53 lakh members is set to get an exponential increase in its subscriber base.

Reports note that based on demographic projections the number of aged in the country would rise to 17.9 crore and comprise 13.3 per cent of the population by 2026. Experts believe that with statutory backing, the scheme could attract a significant chunk of the 46 crore workforce and the total corpus could rise by $60 billion in the first year of its full launch.

Read the Indian Express news report here.