Aided by strong show by the non-government sector, the National Pension System’s (NPS) assets under management (AUM) — including the corpus on Atal Pension Yojana (APY) — grew 27 per cent year-on-year to touch ₹10.21-lakh crore as of October 7, official PFRDA data showed.

On October 8 of last year, the NPS assets under management stood at ₹8.04-lakh crore. 

The AUM had crossed the ₹10-lakh crore milestone on August 25. As of the end of March this year, NPS AUM stood at ₹8.98-lakh crore.

PFRDA is confident that NPS assets will touch anywhere between ₹11-12-lakh crore by end of March 2024.

The all-citizens model, as of October 7, saw a robust 23.28 per cent jump in the subscriber base, at 31.05 lakh, and a 34.71 per cent jump in AUM at ₹48,696 crore.

On the other hand, corporate NPS subscriptions grew 17 per cent to 18.43 lakh subscribers (15.80 lakh as of September 16, 2022), and AUM was up 36 per cent at ₹1,39,483 crore from ₹1,02,533 crore, the latest data showed.

While NPS assets of Central government employees grew by 22.66 per cent to ₹2.89-lakh crore (₹2.35-lakh crore), the NPS assets of State government employees stood at ₹5.08-lakh crore, up 26.60 per cent over ₹4.01-lakh crore as of October 8 last year. The number of NPS subscribers from the government sector (Centre and States put together) stood at 86 lakh.

NPS AUM had doubled to ₹10-lakh crore from ₹5-lakh crore in just two years and 10 months.

NPS took six years and six months to reach the milestone of ₹1-lakh crore AUM after its implementation in the year 2009. It then took four years and 11 months to further increase AUM to ₹5-lakh crore.  

As part of its efforts to further ramp up NPS assets, Pension regulator PFRDA is now focused on enhanced outreach to Central PSEs, private corporates as well as NRIs. 

PFRDA had recently written to all the top brass of Central public sector entities who are yet to onboard into NPS and urged them to join this pension system.

This year, PFRDA expects at least 13 lakh new subscribers from both corporates and all citizen categories. Last fiscal year, PFRDA had added a million new subscribers.