openPR Logo
Press release

Pension Fund Market in India 2020 | HDFC Life Insurance Company Limited, Aviva Life Insurance Company India Limited, Aditya Birla Sun Life Pension Management Limited, HDFC Pension Management Company Limited, ICICI Prudential Pension Funds Management Compa

08-19-2021 11:31 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: ReportsnReports

Request a Free sample on this latest research report @ https://www.marketreportsonline.com/contacts/requestsample.php?name=814411

Companies covered: HDFC Life Insurance Company Limited, Aviva Life Insurance Company India Limited, Aditya Birla Sun Life Pension Management Limited, HDFC Pension Management Company Limited, ICICI Prudential Pension Funds Management Company Limited, LIC Pension Fund Limited, Reliance Nippon Life Insurance Company Limited, SBI Pension Funds Private Limited, Tata AIA Life Insurance Company Limited, UTI Retirement Solutions Limited

The Indian pension industry is a complex and fragmented system. However, the current demographic structure makes it one of the most feasible markets for pension fund providers. The fertility rate in the country has decreased drastically from 2.50 in 2011 to 2.22 in 2018. Further, the country's rich demographic dividend calls for a robust social security framework. The three most crucial elements of the industry are Employee Provident Fund (EPF), National Pension Scheme (NPS) and Public Provident Fund (PPF) catering to the needs of the different segments of population.
The retirement fund corpus was worth ~INR 25,078 Bn in 2018 and is expected to reach INR 62,353 Bn by 2025, expanding at a compound annual growth rate of

~14.33 % during the 2020-2025 period.
The Indian government is restructuring the current pension system by promoting pension coverage among informal sector workers. The collected retirement fund corpus is invested in long-term growth projects, which accelerates the pace of economic development of the country.
The country's pension industry is highly underpenetrated as ~88% of the population does not possess any social security scheme, which indicates that the market has huge growth potential.

Market segment insights:
The retirement fund corpus is inclusive of contributions from Employee Provident Fund and related plans, Life Insurance and Annuity schemes, Private Pension Fund, Public Provident Fund, and the National Pension Scheme.

More than 40% of the current corpus is contributed by Employee Provident Fund, the most developed segment of retirement planning for the organized sector workforce. However, contributions from Life Insurance and Annuity plans are expected to grow significantly during the forecast period. With increasing financial inclusion, the market for Public Provident Fund and National Pension Scheme would expand exponentially, especially among those employed in the unorganized sector.

Impact of COVID-19:
The impact of the pandemic on the Indian pension fund market is likely to intensify in the long run. The government has redesigned the interest rate, which is expected to diminish private savings and pension fund assets. Further, several policy decisions to support pension fund subscribers during the crisis period are expected to add to the problem of accounting and returns for industry players.

Feel free to ask your queries at https://www.marketreportsonline.com/contacts/requestsample.php?name=814411

Corporate Headquarters
Tower B5, office 101,
Magarpatta SEZ,
Hadapsar, Pune-411013, India.
+ 1 888 391 5441
sales@marketreportsonline.com

MarketReportsOnline.com is your one stop market research and industry analysis reports' library providing business data and intelligence information on thousands of micro markets with global as well as regional coverage. Category focused research, country reports, company profiles, regional and global industry profiles and guides to premium reports offering extensive coverage of other 20+ industries are all available in our library of syndicated market research reports.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Pension Fund Market in India 2020 | HDFC Life Insurance Company Limited, Aviva Life Insurance Company India Limited, Aditya Birla Sun Life Pension Management Limited, HDFC Pension Management Company Limited, ICICI Prudential Pension Funds Management Compa here

News-ID: 2360209 • Views: 462

More Releases from ReportsnReports

Invasive Brain Monitoring Device Market to Witness Huge Growth by Key Players: N …
The Invasive Brain Monitoring Device report understands the current and future competitive scenario across types, countries, and applications.It provides accurate, up-to-date analysis of markets and companies.The report use reliable information and analysis to gain a deeper understanding of the current factors impacting the industry. The Invasive Brain Monitoring Device report provides exact and accurate data that helps companies of all sizes to make timely decisions. Furthermore, the report provides robust solutions
Universal Power Line Carrier (UPLC) Market to Witness Huge Growth by Key Players …
The Universal Power Line Carrier (UPLC) report compiles the market information depending upon market development and growth factors, optimizing the growth path. In addition, it highlights the strategies and market share of the leading vendors in the particular market. The report follows a robust research methodology model that helps to make informed decisions. It obtains both qualitative and quantitative market information supported by primary research. The Universal Power Line Carrier (UPLC)
Search and Content Analytics Market to Witness Huge Growth by Key Players: Googl …
The study provides an in-depth analysis of the major market players in the Search and Content Analytics market. It provides a detailed analysis of each segment and driving factors coupled with growth rate analysis. Furthermore, the report also provides regional analysis that offers insights on the market potential across each region to enable market players to leverage market opportunities. The Search and Content Analytics research report provides region-wise and country-wise
HSS (High-Speed Steel) Milling Tools Market to Witness Huge Growth by Key Player …
The top-notch information research report published by ReportsnReports is a vital asset that offers qualitative and quantitative factors of the HSS (High-Speed Steel) Milling Tools market. The research study and methodologies mentioned in the report examine the critical vendors by considering their contribution to the global market. Furthermore, the report offers an in-depth insight into leading players' performance based on revenue generation and client requirements. Also, the research report reveals

All 5 Releases


More Releases for Limited

Cold Chain Market in India 2020 | Snowman Logistics Limited, Coldstar Logistics …
Request Free sample on this latest research report @ https://www.marketreportsonline.com/contacts/requestsample.php?name=828960 Key Players: Snowman Logistics Limited, Coldstar Logistics Private Limited, Gati Kausar India Limited, Gubba Cold Storage Private Limited, Kool-ex Cold Chain Limited, Seabird Logisolutions Limited, DHL Logistics Private Limited, Kuehne + Nagel Private Limited Cold chains provide storage and distribution services for products that are temperature-sensitive. Depending on the nature and purpose of storage application, cold chains have been categorized as frozen
Power Sector in India 2021 | Adani Power Limited, CESC Limited, Damodar Valley C …
Request a FREE sample on this latest research report @ https://www.marketreportsonline.com/contacts/requestsample.php?name=837846 Companies covered: Adani Power Limited, CESC Limited, Damodar Valley Corporation (DVC), NHPC Limited, NTPC Limited, SJVN Limited, Suzlon Energy, Tata Power Limited, Websol Energy System Limited, Nuclear Power Corporation of India Limited (NPCIL) The Indian power sector has undergone a significant transformation in terms of power supply, energy demand, fuel mix, and market operations. India appeared to be the third-largest power
Financial Brokerage Market in India 2021 | Angel Broking Limited, Geojit Financi …
Request a sample on this latest research report @ https://www.marketreportsonline.com/contacts/requestsample.php?name=839020 The brokerage market was valued at INR 135.0 Bn in FY 2016. In FY 2020, it reached INR 210 Bn from INR 195 Bn in FY 2019, expanding at an annual growth rate ~7.69%. Key Players: Angel Broking Limited, Geojit Financial Services Limited, ICICI Securities Limited, IIFL Finance Limited, Kotak Securities Limited, Motilal Oswal Financial Services Limited, Reliance Capital Limited, SMC Global
Gin Market major keyplayers Tilaknagar Industries Limited, United Spirits Limite …
Future Market Insights (FMI) has published a new report, which is titled, “Gin Market: Driven By Changing Lifestyle and Expanding Urban Population - India Industry Analysis and Opportunity Assessment, 2015 – 2025.” The Indian gin market is witnessing a steady rise on account of the growing urban population and changing demographics. The change in outlook of the Indian society towards social consumption of alcohol is driving the growth of the
Auto Ancillary Market In India And Top Key Players Are Amtek Auto Limited, Bhara …
The auto ancillary industry is the other side of the automotive industry, which deals with the manufacturing and selling of intermediate parts, equipment and chemicals among others. The auto ancillary supply chain members are original equipment manufacturers (OEMs), tier I, tier II, tier III manufacturers and intermediaries. OEMs deal in high-value instruments and dominate the market, while the unorganized sector serves the aftermarket and deals in low-value products. Market segmentation The Indian
India footwear Market 2018-2025 Growth Analysis by Key Players, Khadim India Lim …
India footwear market Currently, India is the second largest footwear manufacturer in the world after China. The footwear market consists of companies engaged in manufacturing, selling and marketing of different kinds of footwear and accessories to the end users, namely men, women and kids. Footwear has evolved from being a necessity, as protection for feet, to an accessory which has become a style statement for customers. The Indian footwear market