Pension sector regulator Pension Fund Regulatory and Development Authority (PFRDA) has seen a big jump in both subscribers as well as assets under managenent (AUM) for the National Pension System (NPS). In an interaction with Moneycontrol, Hemant Contractor, chairman, PFRDA, talks about the business, new players and way ahead. Excerpts:
NPS has seen a big jump both in number of subscribers as well as AUM. Do you expect this trend to continue till end of FY18?
In terms of AUMs, we are touching Rs 2.2 lakh crore, which is a 47 percent growth on a year-on-year basis. This year growth has been better than last year. Atal Pension Yojana itself saw 7.8 million subscribers. Even when it comes to subscribers, we have almost reached 19 million subscribers and have seen a growth of 28 percent. In the last three months of the financial year, we usually get in large volumes and expect to see a 50 percent growth in AUMs and 30 percent growth in subscribers.
