Making India Retirement Ready – HDFC Pension Management Company Limited
The best way to show your appreciation for this project is to click some advertisements and keep a count of how many you clicked. You will be asked for the number of advertisements that you clicked before you can vote. The money generated through this supports our social action.
HDFC PENSION MANAGEMENT COMPANY LIMITED
Problem
- Lack of awareness of the superior benefits offered by NPS – only 12% of the working population in India is covered under various pension systems
- Lack of awareness on the benefit of coming out of default scheme and exercising choice of PFM and scheme preference for Govt. NPS subscribers.
- Lack of adoption of NPS in Retail space and Corporates in India
- Lack of initiatives from financial product distributors & service providers to popularize NPS
- Absence of structured engagement program for pursuing and handholding retail and corporate clients for onboarding to NPS
Solution
- Effective strategy to drive awareness across PAN India specifically in the Corporate segment and amongst Government employees – 5600+ awareness sessions have been conducted in last 12 months covering ~ 90,000 corporate employees & ~150,000 government employees
- Structured communication plan put in place to reach out to the employees/ individuals
- Encapsulated multimedia creatives for effective communication to Corporates & Subscribers on NPS
- Educating the NPS subscribers by sharing regular fund performance updates with industry comparison and help them invest wisely.
- Agile Service Super Architecture for creating differential experience for HPMC Customers
Outcomes
- #1 PFM in the Indian Retail and Corporate NPS market, with the highest 42.3% of AUM share as of June’23 – AUM value of HDFC Pension crossed to Rs. 50000 Cr mark
- Steady growth in PFM subscribers onboarding to NPS under Corporate & Retail over last 3 years with a CAGR of 41%.
- Number of Corporate Partners for HDFC Pension doubled from 1005 in FY21 to 2034 in FY23.
- Increased trend in Govt. subscribers coming out of default choice & shifting to HPMC as PFM – 42% of such subscribers chosen HDFC Pension as their PFM
- HDFC Pension steadily delivered superior fund performances – top ranked in terms of returns under all the investment categories.
SKOCH Award Nominee
Category: Pension Fund
Sub-Category: Pension Fund
Project: Making India Retirement Ready
Start Date: 2021-04-01
Organisation: HDFC Pension Management Company Limited
Respondent: Mr Srinivas G, srinivas.g@hdfclife.com
www.hdfcpension.com
Level: Club Star
Video
See Presentation
Gallery
Case Study
Making India Retirement Ready
HDFC Pension Management Company (HPMC) has been India’s leading and fastest-growing private Pension Fund Manager for the last 3 years under the NPS architecture. As PFM and also a registered Point of Presence for NPS, the organisation is delivering yeoman’s service in proliferating NPS social security coverage in the country through its state-of-the-art distribution and servicing for the public at large. In this endeavour, the company played a pivotal role in spearheading NPS awareness and Retirement planning literacy among Indian corporates & individuals. Through its persistent focus on revenue enhancement, innovative practices for productivity improvement and cost optimisation, backed up by strong governance mechanisms, HPMC has established a profitable NPS business model with a proven track record of success. It remains the #1 PFM in the Indian Retail and Corporate NPS market, with the highest 42.3% of AUM share as of June’23.
With a steady 3-years-CAGR of 76%, HPMC currently caters to a large base of 2000+ corporate partners and 1.6 Million+ individual NPS subscribers. HDFC Pension got the honour of ‘Best Pension Fund Manager in India’ by Money Today for 3 consecutive years. It has been recognised as ‘The Best Performing NPS PoP’ for FY2022-23 by the Pension Fund Regulatory and Development Authority of India (PFRDA).
For more information, please contact:
Mr Srinivas G, srinivas.g@hdfclife.com at srinivas.g@hdfclife.com
(The content on the page is provided by the Exhibitor)
The best way to show your appreciation for this project is to click some advertisements and keep a count of how many you clicked. You will be asked for the number of advertisements that you clicked before you can vote. The money generated through this supports our social action.