NPS alone has an investment size of Rs 9.29 lakh crore out of Rs 9.58 lakh crore, and the remainder of the Rs 28,538 crore is the total assets of APY.
According to PFRDA Chairman Deepak Mohanty, the AUM under pension plans is anticipated to surpass the historic amount of Rs 10 lakh billion in the first half of the current fiscal year. Assets under management (AUM), which include the National Pension Scheme (NPS), Atal Pension Yojana (APY), and NPS Lite, has reached Rs 9.58 lakh crore as of the most recent data.
“Our AUM size has grown to roughly Rs 9.5 lakh crore. Therefore, it shouldn’t come as a surprise that by the middle of this fiscal year, the NPS corpus may surpass the legendary 10 lakh crore mark, he said in an interview.
According to the chairman of the Pension Fund Regulatory and Development Authority (PFRDA), it depends on a wide range of other factors, including the return the fund earns and the state of the market.
Due to the mark-to-market nature of the AUM corpus, market volatility affects it.
According to him, the NPS solely has an asset pool size of Rs 9.29 lakh crore out of Rs 9.58 lakh crore, while the balance of Rs 28,538 crore is the total corpus of APY.
According to Mohanty, the number of NPS users has already surpassed 10 lacks since last year.
He stated, “We anticipate the number of members to reach 13 lacks this year as this field is expanding. We intend to reach this figure.
According to him, the federal government sector is on standby because payments keep flowing in on their own, but the private sector needs to expand. NPS is made up of contributions from federal employees and the private sector.
For this, according to Mohanty, the supervisor is taking a lot of steps. For instance, the PFRDA has made it possible for agents to underwrite NPS, and trade organizations are being educated on how to encourage NPS among corporations.
“On the computerized side, we have embarked on a lot of initiatives, for instance, e-NPS, wherein one can do it independently as opposed to by means of an intermediary,” he claimed.
The regulator stated that the uptake and extension of APY had been quite satisfactory.
“Last year, we reached a milestone of over one crore subscribers—1.2 crore to be exact. We are aiming for roughly 1.3 crore this year (2023–24),” he remarked.
As of the right moment, Mohanty continued, the APY subscription base is close to 5.2 crore, which is a sizable amount.
“Having said that, there is potential. Take a peek at the 49 crore accounts in the Pradhan Mantri Jan Dhan Yojana (PMJDY). About 25 crore of these account holders are between the ages of 18 and 40. It would take time to figure out how to handle the entire process in a better organized and manageable manner because that is the segment’s promise, he said.
