New Delhi, Aug. 9 -- The Pension Fund Regulatory and Development Authority (PFRDA) is targeting a sharp expansion in the National Pension System (NPS), with non-government subscribers expected to rise to 35-40 crore over the next five years from around 90 lakh currently.

PFRDA chairman Sivasubramanian Ramann announced the target at an outreach event in Kolkata on Friday, according to an Economic Times report. He said the regulator expects the digital push in the pension sector to add around 2-3 crore subscribers every year.

The target would require NPS to move well beyond its traditional base of salaried and government-linked subscribers and reach a much larger pool of private-sector workers, self-employed individuals and other non-gove...