The assets under management (AUM) of pension fund managers (PFMs) has increased to Rs 8.99 lakh crore by March 2023 against Rs 2,202 crore in March 2009, according to the first Handbook of National Pension System (NPS) Statistics released by the Pension Fund Regulatory and Development Authority (PFRDA). The report showed that over 90 percent of the pension AUM has been contributed by SBI Pension Fund, UTI Pension Fund and LIC Pension Fund.
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Sector wise, the AUM of the central government (CG) has increased to Rs 2.57 crore by March 2023. For state governments (SGs), the same has increased to Rs 4.49 crore. On the other hand, corporate sector has witnessed a growth to Rs to Rs 1.17 crore.
Number of subscribers
NPS subscribers are divided into different sectors such CG employees, SG employees, corporate sector, all citizen, NPS Lite and Atal Pension Yojana (APY).
In terms of the number of subscribers, the CG sector has seen a rise to 23.97 lakh by March 2023. The state sector has seen a growth from 1.79 lakh in March 2010 to 60.95 lakh by March 2023. The number of subscribers under the all citizen category has increased to 29.6 lakh by March 2023.
| Month End | CG | SG | Corporate | All Citizen | NPS Lite | APY |
| Mar-10 | 5,96,400 | 1,79,427 | 1 | 4,141 | - | - |
| Mar-11 | 7,49,974 | 5,81,600 | 4,204 | 34,567 | 4,86,719 | - |
| Mar-12 | 9,34,719 | 11,56,305 | 17,093 | 56,963 | 9,68,755 | - |
| Mar-13 | 11,26,588 | 16,40,519 | 1,43,249 | 70,418 | 17,79,944 | - |
| Mar-14 | 13,42,267 | 20,06,777 | 2,62,335 | 78,774 | 28,16,027 | - |
| Mar-15 | 15,11,528 | 26,30,194 | 3,73,273 | 86,774 | 41,46,880 | - |
| Mar-16 | 16,57,623 | 29,23,882 | 4,73,515 | 2,15,372 | 44,80,014 | 24,60,992 |
| Mar-17 | 17,88,699 | 33,32,526 | 5,85,650 | 4,39,097 | 44,29,342 | 48,63,699 |
| Mar-18 | 19,21,626 | 38,67,544 | 6,95,508 | 6,83,713 | 43,95,323 | 96,05,713 |
| Mar-19 | 19,84,564 | 43,21,325 | 8,03,015 | 9,29,931 | 43,62,538 | 1,49,53,432 |
| Mar-20 | 21,01,972 | 47,53,870 | 9,73,560 | 12,51,574 | 43,31,664 | 2,11,42,262 |
| Mar-21 | 21,75,846 | 51,40,504 | 11,25,163 | 16,46,773 | 43,02,258 | 2,80,49,151 |
| Mar-22 | 22,83,671 | 55,76,986 | 14,04,569 | 22,92,014 | 41,86,943 | 3,62,76,704 |
| Mar-23 | 23,97,125 | 60,95,989 | 16,81,865 | 29,57,449 | 41,75,845 | 4,59,47,302 |
(Source: Handbook of National Pension System (NPS) Statistics)
Sector wise enrolments and contributions in accounts
NPS offers two kinds of accounts — tier 1 and tier 2 — for instruments, including government bonds, equity market, and corporate debt. While the tier 1 NPS account is strictly a pension account, the tier 2 account — known as an investment account — is voluntary savings account associated with the Pension Regulatory Authority of India (PRAN).
Here's a look at sector wise enrolments in tier 1 account:
| Year | CG | SG | Corporate | All Citizen |
| 2008-09 | - | - | - | - |
| 2009-10 | 18 | 1 | 84 | 383 |
| 2010-11 | 178 | 30 | 606 | 3,868 |
| 2011-12 | 166 | 173 | 423 | 2,156 |
| 2012-13 | 135 | 159 | 1,100 | 3,032 |
| 2013-14 | 82 | 83 | 998 | 2,620 |
| 2014-15 | 81 | 73 | 1,574 | 2,470 |
| 2015-16 | 242 | 289 | 5,096 | 14,608 |
| 2016-17 | 3,389 | 2,077 | 9,238 | 29,265 |
| 2017-18 | 4,817 | 4,103 | 11,391 | 39,026 |
| 2018-19 | 3,738 | 4,834 | 11,251 | 38,597 |
| 2019-20 | 5,230 | 5,464 | 13,658 | 45,260 |
| 2020-21 | 6,917 | 8,940 | 25,999 | 72,601 |
| 2021-22 | 8,225 | 10,466 | 35,634 | 1,13,164 |
| 2022-23 | 5,626 | 8,213 | 32,571 | 1,15,931 |
(Source: Handbook of National Pension System (NPS) Statistics)
Here's a sector wise contributions in tier 2 account:
| Year | CG | SG | Corporate | All Citizen |
| 2008-09 | - | - | - | - |
| 2009-10 | 0.00 | 0.00 | 0.12 | 0.30 |
| 2010-11 | 0.24 | 0.01 | 1.68 | 7.65 |
| 2011-12 | 0.48 | 0.42 | 1.97 | 9.67 |
| 2012-13 | 0.86 | 0.73 | 3.13 | 13.71 |
| 2013-14 | 0.98 | 0.59 | 4.82 | 22.66 |
| 2014-15 | 0.93 | 0.52 | 6.87 | 25.99 |
| 2015-16 | 1.29 | 0.55 | 14.23 | 44.43 |
| 2016-17 | 8.83 | 2.65 | 39.19 | 108.64 |
| 2017-18 | 20.04 | 7.61 | 63.62 | 173.69 |
| 2018-19 | 20.00 | 8.27 | 75.89 | 212.63 |
| 2019-20 | 40.20 | 15.48 | 176.47 | 545.13 |
| 2020-21 | 79.63 | 32.83 | 331.51 | 847.25 |
| 2021-22 | 126.69 | 43.04 | 486.00 | 1,453.24 |
| 2022-23 | 69.40 | 28.28 | 320.03 | 1,220.55 |
(Source: Handbook of National Pension System (NPS) Statistics; figures in crores)
Returns
NPS has provided consistently good returns for investors in the range of 9-12 percent under the tier I equity asset class since inception.
For investors, these returns depend on the selection of the pension fund managers (PFMs), investment options, asset allocation, time horizon of investment and risk appetite, i.e. whether one is an aggressive or conservative investor and the period for which one shall remain invested under the NPS.
Pension fund managers (PFMs) under NPS are mandated to invest the subscriber's contribution as per prescribed guidelines and regulations by PFRDA.
Here's a look at the performance of different PFMs:
Pension Fund | InceptionDate | AUM(Rs crore) | Subscribers | NAV | Returns 1 Year | Returns since inception |
Aditya Birla Sun Life Pension Management Ltd. | 02-Sep-20 | 0.59 | 613 | 12.1961 | 10.48% | 7.55% |
Axis Pension Fund Management Limited | 21-Oct-22 | 0.09 | 140 | 10.3384 | NA | 3.38% |
HDFC Pension Management Co. Ltd. | 03-Sep-20 | 4.26 | 2,416 | 11.6202 | 11.47% | 5.66% |
ICICI Pru. Pension Fund Mgmt Co. Ltd. | 04-Sep-20 | 1.22 | 1,361 | 11.6848 | 10.88% | 5.88% |
Kotak Mahindra Pension Fund Ltd. | 04-Sep-20 | 0.57 | 584 | 12.0466 | 10.49% | 7.08% |
LIC Pension Fund Ltd. | 04-Sep-20 | 1.55 | 1,485 | 11.9782 | 10.78% | 6.85% |
Max Life Pension Fund Management Limited | 12-Sep-22 | 0.02 | 49 | 10.3938 | NA | 3.94% |
SBI Pension Funds Pvt. Ltd | 04-Sep-20 | 3.97 | 2,564 | 11.1663 | 8.23% | 4.13% |
Tata Pension Management Ltd. | 19-Aug-22 | 0.25 | 261 | 10.4878 | NA | 4.88% |
UTI Retirement Solutions Ltd. | 04-Sep-20 | 0.91 | 1,214 | 11.5016 | 10.30% | 5.27% |
(Returns as on May 26, 2023, Source: NPS Trust website)
More about NPS
NPS is a government-run investment scheme that gives subscribers the option to set the preferred allocation to different asset classes. It gives individuals an opportunity to invest and accumulate savings, providing them with a lump sum and an annuity amount as regular income from an annuity service provider upon superannuation.
(Edited by : Shoma Bhattacharjee)
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