Pension assets under management — National Pension System and Atal Pension Yojana — have touched almost ₹8.5 lakh crore as of end November, data available with PFRDA showed.

At total AUM of ₹8.39 lakh crore as of November 26, this represents a 22.3 per cent increase over total AUM of ₹6.86 lakh crore as of November 27,  2021. 

Between March 31 this year (when total AUM stood at ₹7.37 lakh crore)  and November 26, total AUM grew 13.8 per cent, the data showed.

There has also been a robust increase in the total number of subscribers (NPS and APY put together) at 5.93 crore, up 24.84 per cent over 4.75 crore as of November 27 last year.

The overall pension assets AUM growth in value terms was bolstered by strong show across government sector (Centre and States), corporate and all citizen models besides Atal Pension Yojana.

It maybe recalled that PFRDA Chairman Supratim Bandyopadhyay had in end-March told businessline that PFRDA sees pension AUM growing at robust 28-30 per cent in 2022-23 despite headwinds such as rising inflation and likely increase in interest rates in the country. 

This expected growth rate was higher than the 27.5 per cent growth recorded  in pension AUM in 2021-22 when total AUM had fallen short of the  ₹7.5-lakh crore target the regulator had set for last fiscal.

SEARCH FOR NEXT PFRDA CHAIRMAN 

Meanwhile, over 40 aspirants have applied for the post of Chairman of Pension Fund Regulatory and Development Authority (PFRDA), it is learnt. The incumbent Chairman Bandyopadhyay’s term will end in mid-January 2023. Already the government has set in motion the process to search and select the next Chairman. A search panel — Financial Sector Regulatory Appointment Search Committee (FSRASC) —headed by the Cabinet Secretary is scheduled to interview the shortlisted candidates on December 16.

Related Topics