NPS assets under management to touch ₹15 lakh crore by FY25 end

PFRDA Chairman Deepak Mohanty said the NPS take up rate by the employees in the corporate sector remains a challenge

The assets under management (AUM) of the National Payment System are expected to touch Rs 15 lakh crore by the end of the current fiscal year, Pension Fund Regulatory Development Authority (PFRDA) Chairman Deepak Mohanty said on Saturday.

At a media interaction following the official launch of the Association of NPS Intermediaries, Mohanty also said the take-up rate by the employees in the corporate sector remains a challenge.

This Association of NPS comprises stakeholders including pension fund managers, points of presence (bank and non-bank), central record-keeping agencies, trustee banks, custodians, aggregators, annuity service providers, pension agents, retirement advisors, and other industry participants.

The association aims to represent the interests of all intermediaries in the NPS ecosystem, promote NPS as a reliable, flexible, and tax-efficient retirement product, focus on subscriber welfare by ensuring smooth and transparent processes within the system and also to collaborate with regulators and policymakers to improve the NPS framework.