support@headlinenews360.com
Pension Plan: People are becoming aware of retirement planning in the country. It can be estimated from this that India’s pension assets Under Management is estimated to increase to Rs 118 lakh crore by 2030 and the National Pension System (NPS) share can be close to 25 per cent. This information has been revealed through a report.
Great growth is being seen in NPS Private Sector AUM. And it has increased to Rs 2,78,102 crore with a rise of 227 percent in the last five years, which was earlier Rs 84,814 crore. The report of DSP Pension Fund Manager said that India’s elderly population is estimated to be 2.5 times by 2050. Also, after retirement, there will be an average increase of 20 years in life expectancy rate.
At present, India’s pension market is quite small and only 3 percent of GDP. The retirement savings difference is expected to increase by 10 percent annually, which will potentially reach about 96 trillion dollars by 2050. The report said that Indian retail investors are moving out of the ways of rapid traditional savings to the market related investment. In the last decade, the dependence on cash and bank deposits has fallen from 62 percent to 44 percent, which shows this change. There has been a strong growth in new NPS registration between FY 2020 and 2024, with 65 percent increase in male customers and 119 percent in female customers.
The NPS Vatsalya, introduced by the government in September 2024, received a good response, which has attracted more than 86,000 customers. The report further stated that the AUM of NPS private sector with more than 1.5 crore customers is estimated to be more than Rs 9,12,000 crore within the next five years. Rahul Bhagat, CEO, DSP Pension Fund Managers, said, “We believe that India’s pension market is on the way to grow rapidly and with the right policies and increasing awareness, it has the ability to unlock the significant value for its citizens with the right policies and increasing awareness. .
Also read
Shaktikanta Das: Why Shaktikanta Das was made Principal Secretary of PM Modi?
