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PFRDA Sept 2022 data shows that nine pension funds collectively managed Rs. 8 lakh crore under NPS (National Pension System) schemes.
In AUM terms, SBI Pension Funds takes the lead and manages 38% or Rs. 3.04 lakh crore of the total assets. LIC Pension Fund and UTI Retirement Solutions has the next highest share of 28% (Rs. 2.27 lakh crore) and 27% (Rs. 2.18 lakh crore) respectively in the NPS pie.
HDFC Pension Management and ICICI Prudential Pension Fund Management occupy the next two spots with 4% and 2% share of the total NPS assets, respectively. They manage Rs. 35,146 crore and Rs. 13,244 crore respectively.
Other four pension funds - Kotak Mahindra Pension, Aditya Birla Sunlife Pension Management, Tata Pension Management and Max Life Pension Fund Management manage Rs. 3,105 crore of assets.
* Others include Kotak, Aditya Birla, Tata and Max Life
Fastest growing pension fund
Overall, the NPS assets grew by 20% from Rs. 6.67 lakh crore as on Sep 21 to Rs. 8 lakh crore as on Sep 22.
With a 57% annual growth, HDFC Pension Management is the fastest-growing pension fund. ICICI Prudential Pension Fund Management and Aditya Birla Sunlife Pension Management reported the next highest growth of 36% and 31%, respectively.
* As on today, there are 10 pension funds for other Government Sector. Tata Pension Management, Max Life Pension Fund and Axis Pension Fund have newly forayed into the pension space.
