AUM of NPS to reach Rs 15 lakh crore by end of this fiscal: PFRDA Chairman

21 Dec, 2024 6:55 PM
AUM of NPS to reach Rs 15 lakh crore by end of this fiscal: PFRDA Chairman
Mumbai, Dec 21 (IANS) The Pension Fund Regulation and Development Authority (PFRDA) Chairman Deepak Mohanty said on Saturday that the asset under management (AUM) of the National Pension System (NPS) is likely to surge to Rs 15 lakh crore by the end of current fiscal (FY25).

In his address at the launch of the Association of NPS Intermediaries here, Mohanty said the NPS is expected to grow at a 30 per cent compound annual growth rate (CAGR) in the coming years.

The AUM of NPS stood at Rs 13.55 lakh crore as on November 30, 2024, as compared to Rs 11.72 lakh crore as on March 31, 2024, as per the PFRDA data. The key contribution to the AUM of the NPA is from the Central government, state government, and corporate sector.

The average returns by pension funds in the equity is 26.56 per cent for one year, 16.19 per cent for three years, and 13.65 per cent since the inception, as per the data.

With assets under management (AUM) exceeding Rs 13.8 lakh crore, both Atal Pension Yojana (APY) and NPS, having a total subscriber base of 8 crore, have emerged as one of the most efficient, tax-advantageous, and low-cost retirement solutions.

In September, in a significant move to secure the financial future of young children in India, the government launched the NPS Vatsalya pension scheme, which offers flexible contributions and investment options for parents or guardians.

The NPS Vatsalya scheme is designed exclusively for minors, marking a significant advancement in financial planning. The scheme not only will secure the future of its young citizens of the country, but also foster a culture of savings from an early age.

Under the NPS Vatsalya scheme, parents can invest a minimum of Rs 1,000 per month with no upper limit. The scheme will be operated by parents until the child reaches 18. At the age of 18, the account will transition into the child’s name.

Words: 278


Disclaimer   The information contained in this website is for general information purposes only. The information is provided by geo24news.com and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.

In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.

We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.

If you are not willing to accept this disclaimer then we recommend reading news post in its original language.




 

 

Scroll to Top