**India’s Pension Regulator Targets 30 Crore Subscribers by 2030**
*By Akash Pandey | Sep 20, 2025, 03:58 PM*
The Pension Fund Regulatory and Development Authority (PFRDA) has unveiled an ambitious plan to expand the subscriber base of the National Pension System (NPS) and Atal Pension Yojana (APY) to 30 crore by 2030. Alongside this growth target, PFRDA aims to achieve a total assets under management (AUM) of ₹45 lakh crore.
Currently, NPS and APY have around 8.6 crore subscribers. Equity investments form nearly ₹3 lakh crore, accounting for approximately 18% of the total AUM.
### Investment Strategy and Equity Exposure
PFRDA Chairperson Sivasubramanian Ramann clarified the approach towards equity investments within the pension funds. While certain categories will have the option to invest 100% in equities, overall equity exposure is expected to remain capped at one-third of the total AUM.
Ramann emphasized the importance of a balanced portfolio for sustained long-term growth, stating, “The concept of long-term growth is tied to diversification. In bad years for equity, government securities and corporate bonds cushion returns.”
### Focus on Gig and Platform Workers
A significant part of PFRDA’s growth strategy involves targeting the private and informal workforce, particularly gig and platform workers. Ramann acknowledged that NPS has yet to make substantial inroads into this segment.
“Platform workers are in a peculiar situation vis-à-vis existing financial products. It’s our combined failing that we haven’t reached them effectively yet,” he admitted. PFRDA is currently in discussions with major digital platforms to enable seamless onboarding of their workforce into pension schemes.
### Exploring New Asset Classes
As part of an ongoing review of investment guidelines, PFRDA is considering expanding the range of permissible asset classes. Potential new additions include investments in gold, silver, and unlisted assets through Alternative Investment Funds (AIFs).
Despite exploring these new avenues, the regulator assured that NPS will continue to remain a low-cost product. Ramann reiterated, “Our goal is very clear: we have to cover the country,” while also highlighting plans to offer slightly higher distribution commissions to encourage broader reach.
—
With these strategic initiatives, PFRDA aims to strengthen India’s pension ecosystem, ensuring wider coverage and diversified, sustainable growth for millions of subscribers ahead.
https://www.newsbytesapp.com/news/business/30cr-subscribers-45l-crore-aum-india-s-pension-regulator-unveils-target/story
