The Pension Fund Regulatory and Development Authority of India (PFRDA) expects the aggregate assets under management under various schemes managed by the regulator, including the National Pension System (NPS) and Atal Pension Yojana, to reach around ₹15 lakh crore by the end of 2024-25.
“The combined corpus (assets under management) is close to ₹12.5 lakh crore (end of June). Of course, the corpus will depend on how the market is performing. If the market is performing normally as expected, we expect the corpus to be ₹15 lakh crore by March 31, 2025,” Deepak Mohanty, chairperson PFRDA told The Telegraph.
According to data from NPS Trust, the AUM as of March 31 was ₹11.7 lakh crore, representing an expected year-on-year growth of around 28.2 per cent for 2024-25.
The growth in AUM would be supported by increasing the subscriber base. The total subscriber base under schemes regulated by PFRDA was around 7.5 crore as of the end of June. “Last year we enrolled 1.22 crore subscribers under Atal Pension Yojana. This year we are planning to enrol around 1.3 crore subscribers,” said Mohanty.
“In the private sector we onboarded 9.7 lakh subscribers last year. This year we are targeting around 11 lakh for the private sector,” he said.
Mohanty said there would be an increasing requirement of pension and social security with the anticipated rise in old age population. “At present, every 10th person is over 65 years in our population. By the middle of the century, every fifth person would be over 65 years. So the old age population will increase,” he said.
Data from PFRDA shows that Bengal was the second largest in terms of gross enrolments in Atal Pension Yojana in 2023-24 with 49.2 lakh enrolments. Bihar has the highest at 62.2 lakh enrolments. The Atal Pension Yojana is a low cost, low contribution pension scheme aimed towards the informal and unorganised sector.
Mohanty also said that the systematic lumpsum withdrawal facility has garnered interest among subscribers. NPS subscribers can withdraw up to 60 per cent of their total pension corpus in instalments until a subscriber turns 75.
