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.