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HDFC Pension Launches a First-of-its-kind National Pension System (NPS) Preference Index on the Occasion of NPS DiwasThe findings are based on a survey done in association with Ipsos across 12 Indian cities | ||
Mumbai, Maharashtra, India
HDFC Pension, one of India’s leading Pension Fund Managers, has been at the forefront in creating consumer awareness amongst Indians about retirement planning using the National Pension System (NPS). Sriram Iyer, Chief Executive Officer, HDFC Pension
October 1st is marked as NPS Diwas. To coincide with the day, HDFC Pension has launched a first-of-its-kind NPS Preference Index that highlights the preference of NPS amongst different consumer groups.
HDFC Pension commissioned an independent market research specialist, Ipsos for conducting the survey for the NPS Preference Index. The findings are based on a consumer market research study* with 1,801 NPS aware consumers across Tier I/II/III locations in the age cohorts of 30-40 years and 45-55 years.
The objective of the survey was to understand consumer outlook towards retirement and gauge consumer familiarity, appeal and consideration, leading to the ‘NPS Preference Index’ which can be tracked over time.
*Note: This consumer research study was conducted as Face-to-Face personal interviews between Aug-Sep 2023 across 12 cities in India among NCCS A, annual household income above INR 10 lakhs (above INR 7 lakhs for Tier III cities).
Speaking on the launch, Sriram Iyer, Chief Executive Officer, HDFC Pension said, “On the occasion of NPS Diwas, we are pleased to unveil the NPS Preference Index, a report that puts the industry-first spotlight on the National Pension System (NPS). In an age where financial security is paramount, our commitment to empowering individuals for a secure retirement gains unprecedented strength.
National Pension System (NPS) is instrumental to facilitate an income post retirement, making it pivotal for long-term financial security. In India, a significant opportunity exists to boost NPS adoption, which is why there was a need to delve deeper into the intricacies and understand why.
Our pursuit is not limited to mere awareness; it extends to building an earnest understanding of NPS among individuals, which is why we worked further ahead to present the 'NPS Preference Index’, a powerful metric derived from three broad aspects that delve into familiarity, appeal and consideration for NPS.” HDFC Pension is the fastest growing legacy Pension Fund Manager in India, under Retail and Corporate NPS segments with the highest number of subscribers (16,92,504 as on September 1st 2023). HDFC Pension has crossed the milestone of Rs. 50,000 cr. of Assets Under Management (AUM) on May 15th 2023 and has been awarded as the 'Best Performing PFM' by Money Today for 3 consecutive years from 2019 to 2022.
About HDFC Pension
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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