The NPS was subsequently extended to all citizens of the country with effect from 1 May 2009 including self employed professionals and others in the unorganized sector on a voluntary basis.

The NPS Trust is composed of members representing diverse fields and brings wide range of talent to the regulatory framework.

The Union Parliament passed the IPRDA Interim Pension Fund Regulatory & Development Authority Bill in February 2003 as a Budget Announcement, approved by the then President of India, Dr. APJ Abdul Kalam.

It was meant to be in place until the final and fool-proof system was prepared, re-approved, and implemented in a way acceptable to all political parties in India, including the opposition.

Tamil Nadu became the first state to implement NPS for its newly appointed employees from the financial year 2003–04, under the Chief Ministership of Jayalalitha.