Pension assets may reach ₹45 trn in 5 yrs: Regulator

Pension assets under management are expected to reach ₹45 trillion in five years, according to the sector regulator, with the reforms it rolled out this week to bring more players to the field. The size of the market now is ₹15 trillion.

- SUBHOMOY BHATTACHARJEE

Pension Fund Regulatory and Development Authority of India (PFRDA) Chairperson S Ramann, in a chat with Business Standard, said this would mean about 300 million working-age Indians would subscribe to some product or the other.

The PFRDA this week launched a range of amendments to the system in the country. These amendments are to the PFRDA (Exits and Withdrawals under the National Pension System) Regulations, 2015. As Ramann described them, the changes were meant to “offer schemes that better identify the needs of private sector customers unlike the plain vanilla nine schemes that mostly target government employees”.

The chairperson made it clear that the amendments did not change the scope of the pension schemes for government employees, which would run unhindered.