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Minimum assured return NPS plan for risk-averse investors on the cards: PFRDA chief

Citizen and corporate models to grow fastest going forward; approval for minimum assured return scheme expected soon, says PFRDA chief Supratim Bandyopadhyay

January 06, 2023 / 09:12 PM IST
The overall assets under management for the NPS universe grew over 22 percent to Rs 8.53 lakh crore.

The overall assets under management for the NPS universe grew over 22 percent to Rs 8.53 lakh crore.

The National Pension System (NPS) may be the focus of attention at present due to several state governments' decision to revert to the old pension system, but its voluntary subscriber base continues to register sharp growth.

Rise in voluntary subscriber base

NPS’s all-citizens-model’s subscriber base – which is open to all Indians looking to save for their retirement– saw a growth of 36.42 percent year-on-year in December 2022.

The corporate model that allows employers to contribute to their employees' retirement corpus, reported a 21.17 percent growth, as per the December 2022 figures released by the Pension Funds Regulatory and Development Authority (PFRDA). The current subscriber bases under the two models stand at 26.52 lakh and 16.24 lakh respectively.