Pension assets under management hit 8.5 lakh crore in end-November

Updated: 06 Dec 2022, 11:26 AM IST

Pension assets under management (AUM) hit a record high of nearly 8.5­lakh crore by the end of November, showing a 22.3% increase from last year. The total number of subscribers has also grown 24.84% over the same period. Despite inflation and interest rate headwinds, the PFRDA expects 28-30% growth in pension AUM for 2022-23.

Year-on-year growth in assets AUM at over 20 per cent, PFRDA data show

Pension assets under management touched nearly 8.5­lakh crore by the end of November, data available with the Pension Fund Regulatory and Development Authority (PFRDA) showed, reported Business Line.

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 7.37­lakh 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 citizens models besides Atal Pension Yojana.

It is worth mentioning that PFRDA Chairman Supratim Bandyopadhyay in end March said that PFRDA sees pension AUM growing at robust 28­30 per cent in 2022­23 despite headwinds such as rising inflation and likely increase in interest rates.

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

First Published: 06 Dec 2022, 11:26 AM IST