Assets under National Pension System (NPS) surged 27.85 per cent y-o-y as of April 20 at Rs 11.73 lakh crore on the back of bullish markets. The overall AUM, including that of Atal Pension Yojana (APY), was flat compared to the end March 2024 level of Rs 11.73 lakh crore.
The number of new NPS and APY subscriber registrations in the first 20 days of April stood at just 51,331, Pension Fund Regulatory and Development Authority (PFRDA) data showed.
The non-government sector —corporates and retail —saw a 38.88 percent year on year growth in its NPS assets as of April 20 this year to Rs 2.27 lakh Crore. On the other hand, NPS assets of the government sector was up 25.35 percent at Rs 9.04 lakh crore, the Businessline reported.
Over the past three years, pension funds achieved an average return of 17.7% in equities, while the equity returns since the National Pension System (NPS) inception was somewhere around 13.56%.
As of April 20, the non-government sector has gained 8.75 lakh subscribers YoY, while the government sector grew by just 7.11 lakh subscribers.
In the non-government sector, 9.47 lakh new subscribers joined NPS in 2023-24, out of which 8.10 lakh were from the ‘all citizen model’ and 1.37 lakh were corporate employees.
The number of new government employees who enrolled in NPS in fiscal year 2023-24 was 7.1 lakh. NPS asset growth has been boosted by awareness campaigns by industry participants and the regulator.
In March, assets of NPS, including Atal Pension Yojana (APY), grew by 30% year-on-year (YoY), reaching Rs 11.50-lakh crore, data till March 2 showed. Of this, equity allocations was about Rs 2.1-lakh crore. The total number of NPS and APY subscribers as of March 2 was at 7.25 crore, up 16% over 6.25 crore in year ago period.
NPS took six years and six months to reach the milestone of Rs 1-lakh crore AUM after its implementation in the year 2009. It then took 4 years and 11 months to further increase AUM to Rs 5-lakh crore.
NPS AUM had doubled to Rs 10-lakh crore as of August 25 last year from Rs 5-lakh crore in a span of just 2 years and 10 months.