New record for SBI Pension Funds! AUM crosses ₹6 lakh crore; here’s how to build a corpus of ₹2.27 crore with a ₹10,000 SIP..

SBI Pension Funds NPS AUM: People's mindset regarding saving for retirement and building a secure financial future is rapidly evolving in the country. As a result, the Assets Under Management (AUM) of SBI Pension Funds under the National Pension System (NPS) has crossed the ₹6 lakh crore mark.

According to a statement issued by the company, SBI Pension Funds currently serves over 1.85 crore subscribers and manages more than 34 percent of India's total pension fund industry by assets.

AUM grew at a CAGR of 36% over 15 years

Driven by the growing trend towards retirement planning, the company's AUM has witnessed a massive surge in recent years. In 2018, SBI Pension Funds' AUM stood at just ₹1 lakh crore; it has now risen to over ₹6 lakh crore. Over the past 15 years, the company's AUM has recorded a Compound Annual Growth Rate (CAGR) of approximately 36 percent.

Commenting on this milestone, Pranay Ranjan Dwivedi, Managing Director and CEO of SBI Pension Funds, said, "As India's retirement landscape evolves, we remain committed to strengthening our investment capabilities and spreading awareness about retirement planning, enabling more Indians to build a financially secure future."

Why is NPS becoming the top choice for retirement?

The National Pension System (NPS) has emerged as a strong pillar of long-term financial security in the country. NPS is one of the world's lowest-cost financial products and is fully regulated by the PFRDA. The NPS account (PRAN) remains unchanged even if one changes jobs or cities. Additionally, apart from the ₹1.5 lakh deduction under Section 80C, investors can avail an extra tax exemption of ₹50,000 under Section 80CCD (1B). Understand the math with the NPS retirement calculator

If you start planning for your retirement through the NPS at the age of 30, the estimated example below helps you understand the size of the corpus and pension you could accumulate by the age of 60:

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