HDFC Pension Management Company Ltd., the fastest growing legacy Pension Fund Manager under the National Pension System (NPS)has crossed the milestone of Rs. 50,000 cr. of Assets Under Management (AUM) on May 15th 2023.
Since its launch in 2013, the Company, a wholly owned subsidiary of HDFC Life Insurance Company Ltd., has grown at a fast rate (see table below). The AUM size has grown 400% in a span of thirty three (33) months from a base AUM of Rs. 10,000 Cr. which was achieved in July 2020.HDFC Pensionis the fastest growing legacyPension Fund Manager in India, under Retail and Corporate NPS segments with the highest number of subscribers (15,00,000+ as on 1st May 2023).
HDFC Pension has been awarded as the ‘Best Performing PFM’ by Money Today for 3consecutive years from 2019 to 2022. Speaking on this milestone, Sriram Iyer – Chief Executive Officer, HDFC Pension said, “I hope more and more Indians opt for this instrument, thereby securing their golden years.”
A few Bangladesh-specific insights from the report – (1) Almost half (46%) of the surveyed freelancers around the world report that they have seen an increase in demand for their work from the global businesses that hire them compared to 2021, (ii) Fields that exhibited particularly higher demand for Bangladesh freelancers in the past year include project management (100% y-o-y change), programming (79% y-o-y change), and content writing (60% y-o-y change), (iii) The freelance workforce in Bangladesh is the youngest when compared to their counterparts in the rest of Asia and the rest of the world, with 83% under the age of 35, (iv) The report also stated that the youngest freelancers in Bangladesh earn higher average hourly rates than their peers elsewhere in the world, (v) Bangladesh-specific respondents also reported an average hourly rate of $18, which is good considering the country’s low cost of living, (vi) Bangladesh-based freelancers work less than 30 hours per week, which is comparatively lower than their counterparts in other Asian nations and across the globe, (vii) The vast majority of freelancers in Bangladesh (87%) reports feeling fulfilled by their flexible and autonomous work arrangements, with almost 50% expressing overall satisfaction and 38% reporting high satisfaction levels.