PFRDA expects AUM of NPS to grow to ₹40 lakh crore in 4 years, driven by addition of new subscribers from non-govt sector

Currently, around 15 per cent of the AUM of the NPS comes from the non-government sector

| Photo Credit:

Jasmine Nongrum

The Pension Fund Regulatory and Development Authority (PFRDA) expects assets under management (AUM) of the National Pension System (NPS) to grow to around Rs 40 lakh crore in the next four years from around Rs 18 lakh crore at present, driven by the addition of at least two to three crore new subscribers from the non-government sector annually.Currently, around 15 per cent of the AUM of the NPS comes from the non-government sector. Total subscribers of NPS, a defined contribution pension system, from the non-government sector stands at around 90 lakh at present.“With the new digital platforms coming in, we are hoping to see at least two to three crore new subscribers coming in annually. In the first year it may not be so much, but in a full year, say if we take the next year, the full year, we should certainly hope to get two to three crores,” PFRDA Chairperson S. Ramann told mediapersons in Kolkata on Friday.PFRDA, the regulatory body for pension schemes, organised an outreach event for mutual fund distributors (MFDs) on StAR NPS and NPS in the city.“We are especially inviting mutual fund distributors to come on to StAR NPS. They are already familiar with BSE StAR MF. We are now advising the mutual fund distributors to bring in their mutual fund customers into NPS as well. Mutual funds today have a holding period of average two-and a half years. But, NPS is that account where you cannot take your money out. I have been holding your money for 15 years. If you don’t keep your money for 15 years, you would never see the growth of the money,” Ramann said.Currently, 10 pension funds are active. After PFRDA invited applications from prospective pension fund managers to manage the corpus under the NPS by opening the ‘on-tap’ registration window from December last year, four more pension funds have newly been given licence.“They will get active, maybe in two-three months,” Ramann added.Published on August 7, 2026