Mumbai : The largest pension fund manager (PFM) in the country, SBI Pension Funds is looking at achieving its assets under management to Rs 65,000 crore by the fiscal-end from the AUM at Rs 61,000 crore as on December 31, a top company official said.
“We are looking at achieving our assets under management to Rs 65,000 crore by the fiscal-end from the current AUM level of Rs 61,000 crore,” SBI Pension Funds’ managing director and chief executive Kumar Sharadindu told PTI. At present, more than 25,000 branches of SBI group are selling the NPS products as point of presence (PoP). All the PoPs get Rs 125 for subscription of every NPS subscriber and hence it’s a source of income for the bank too having its branches acting as PoPs. The company is encouraging its promoter State Bank of India to spread the message of National Pension Scheme
