Mumbai (Maharashtra) [India], May 19 (ANI/NewsVoir): HDFC Pension Management Company Ltd., the fastest growing legacy Pension Fund Manager under the National Pension System (NPS) has crossed the milestone of Rs. 50,000 cr. of Assets Under Management (AUM) on May 15th 2023. Since its launch in 2013, the Company, a wholly owned subsidiary of HDFC Life Insurance Company Ltd., has grown at a fast rate (see table below). The AUM size has grown 400% in a span of thirty three (33) months from a base AUM of Rs. 10,000 Cr. which was achieved in July 2020.
HDFC Pension is the fastest growing legacy Pension Fund Manager in India, under Retail and Corporate NPS segments with the highest number of subscribers (15,00,000+ as on 1st May 2023).
Speaking on this milestone, Sriram Iyer - Chief Executive Officer, HDFC Pension said, "This is a very proud moment for us. We are delighted to have crossed this milestone of Rs. 50,000 cr. AUM and this validates our strong presence. This achievement becomes even more significant as we complete ten (10) years of business this year. This milestone is a reflection of the trust placed in our organization by our esteemed subscribers. We would like to thank our subscribers, Corporate partners, Points of Presence (POPs) and distributors for the confidence and trust they have shown in us and their support that has enabled the Company to grow over the years.
Every working individual needs an avenue to secure their future after retirement. NPS as a financial product plays a critical role in the process of retirement planning. The superior returns, attractive tax benefits, and low charges make for a strong customer proposition. With our AUM crossing the threshold of Rs. 50,000 cr., the effective Fund Management Charges for our subscribers will reduce further, making the product more cost effective. I hope more and more Indians opt for this instrument, thereby securing their golden years."
HDFC Pension has been awarded as the 'Best Performing PFM' by Money Today for 3 consecutive years from 2019 to 2022.
HDFC Pension Management Company Limited is a licensed Pension Fund Manager appointed by Pension Fund Regulatory & Development Authority (PFRDA) to manage pension corpus of citizens enrolled under the National Pension System. HDFC Pension Management Company Ltd. is a wholly owned subsidiary of HDFC Life Insurance Company Ltd., one of India's leading Life Insurance Company.
HDFC Pension is licensed as a Pension Fund Manager (PFM) and as a Point of Presence (POP), and is managed by seasoned professionals with vast experience in Insurance & Pension Administration, Risk Management, Banking, Capital Market and Asset Management. The Company is committed to delivering superior risk adjusted returns strictly adhering to the prudent investment norms and guidelines laid down by PFRDA. As a PoP, the Company aims to provide seamless service to Individuals (under the retail NPS scheme) and Corporate Employees (under the Corporate NPS scheme) by helping them subscribe to NPS and for their ongoing service needs through the life of their investment.
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