New Delhi, Aug. 4 -- Growing awareness about the need to save for retirement and increasing investments in retirement-focused financial products are driving the expansion of India's pension ecosystem, with SBI Pension Funds crossing Rs.6 lakh crore in assets under management (AUM) under the National Pension System (NPS), according to a company release.

The release said SBI Pension Funds now serves more than 1.85 crore subscribers and manages over 34 per cent of India's pension fund industry by assets. It added that the milestone reflects the growing confidence of subscribers in regulated retirement savings.

The company said the achievement also reflects the broader evolution of India's retirement ecosystem, with awareness around retirem...