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PFRDA crosses 2 cr subscribers, expects them to grow 28% next year

PFRDA crosses 2 cr subscribers, expects them to grow 28% next year

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  14 Feb 2018 12:00 AM GMT

Kolkata, Feb 13: The Pension Fund Regulatory and Development Authority (PFRDA), which achieved a two crore subscribers’ base on Monday, is looking at a 28 per cent growth in subscriber base in the next year, an official said here on Tuesday.

The PFRDA also expects that its asset under magement (AUM) would grow by 45-47 per cent in the next year. “Our subscriber base is growing by 27-28 per cent a year. Yesterday (Monday), we have touched two crore subscribers’ mark. In the last March, there were about 1.54 crore subscribers. Going forward, we expect same pace of growth to continue in the next year,” PFRDA’s Chairman Hemant G. Contractor told reporters here.

He said: “The corpus is currently at Rs 2.25 lakh crore. The asset under magement has been growing by about 45 per cent annually in the last three years and in the last year, the growth was 47 per cent. Next year, we expect similar trend to continue i.e. 45-47 per cent growth.” He, however, said the proposal of long term capital gains tax will not have much impact on it. “It does not have much impact on us. The investments in tiol Pension System are made by our trust (NPS Trust) which is a tax exempted body. As far as pension investments are concerned, LTCG will not have impact,” he said. (IANS)

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