Pune: The Pension Fund Regulatory and Development Authority (PFRDA) is strengthening pension inclusion through new National Pension System (NPS) initiatives, simplified digital enrolment, awareness programmes and retirement planning tools.
In Pune, the Pension Fund Regulatory and Development Authority said the Corporate and All Citizen NPS models together account for more than 2.53 lakh subscribers and ₹12,171 crore in assets under management (AUM).
The initiatives announced by the Pension Fund Regulatory and Development Authority aim to expand access to pension savings among government and private-sector employees, self-employed individuals, gig and platform workers, entrepreneurs, women and children.
The announcement was made on October 12, 2026, in Pune, where Sanjay Pandey, Whole-Time Member (Finance), PFRDA, outlined the initiatives during a media interaction ahead of the Authority’s outreach programme on NPS and StAR NPS for mutual fund distributors.
“India’s pension landscape is evolving, and expanding coverage requires us to make pension products simpler to access, easier to understand and relevant to people across different stages of life.
Through initiatives such as NPS Sanchay, Pension Sakhis, NPS Vatsalya and PRIDE-DISHA, we are working to strengthen both access and awareness.
Our focus is not only on bringing more people into the pension ecosystem but also on helping subscribers make informed decisions and develop a long-term approach to retirement planning,” said Pandey.
Pension Fund Regulatory and Development Authority Focuses on Expanding NPS Coverage
The Pension Fund Regulatory and Development Authority said more than 22% of all NPS accounts opened in the Non-Government Sector since 2009 were added during the past year.
According to the release, the growth has been driven by the pension product, enhanced product features, easier onboarding and continued improvements in the subscriber experience.
The PFRDA outreach programme also highlighted the growing contribution of Maharashtra’s major centres to pension savings.
Across Pune, Mumbai, Thane, Nagpur and Raigad, the Corporate NPS has 3,26,980 subscribers and ₹33,528 crore in AUM. Pune leads these five centres in terms of subscriber numbers, while Mumbai has the highest AUM.
Under the Corporate NPS model, Pune has 1,13,036 subscribers with ₹9,107 crore in AUM. Mumbai has 1,01,913 subscribers and ₹13,380 crore in AUM, followed by Thane with 70,782 subscribers and ₹6,566 crore, Nagpur with 21,441 subscribers and ₹2,195 crore, and Raigad with 19,808 subscribers and ₹2,280 crore.
All Citizen NPS Adds to Pune’s Pension Base
The All Citizen NPS model, which allows eligible individuals to independently build retirement savings without employer-linked arrangements, has 4,71,796 subscribers and ₹12,929 crore in AUM across the five centres.
Mumbai leads the All Citizen NPS model with 1,68,539 subscribers and ₹6,118 crore in AUM. Pune follows with 1,40,518 subscribers and ₹3,064 crore in AUM.
Thane has 95,531 subscribers and ₹2,568 crore in AUM, while Nagpur and Raigad have 37,740 and 29,468 subscribers, respectively.
Together, the Corporate and All Citizen NPS models account for 7,98,776 subscribers and ₹46,457 crore in AUM across Pune, Mumbai, Thane, Nagpur and Raigad. Pune contributes 2,53,554 subscribers and ₹12,171 crore in combined AUM.
NPS Sanchay and Pension Sakhis to Expand Pension Access
The Pension Fund Regulatory and Development Authority is also using NPS Sanchay to target gig and platform workers, self-employed individuals, entrepreneurs and MSME owners who may not have access to employer-linked retirement benefits.
Tatkal NPS is designed to simplify digital onboarding through a three-click process. The framework outlined during the interaction includes an entry contribution of ₹250, UPI top-ups starting at ₹10 and a stated portfolio allocation of 25% to equity.
PFRDA is working with UPI agents to widen access. The Authority has also signed an MoU with the Ministry of Rural Development to promote enrolment through Pension Sakhis, with the aim of strengthening pension awareness and access among rural households and women.
Recalling the adoption of digital payments, Shri Pandey said, “You didn’t have to tell anybody how to operate UPI.” The same simplicity, he noted, is the principle behind NPS Sanchay.
NPS Vatsalya Promotes Early Retirement Savings
NPS Vatsalya is another initiative highlighted by the Pension Fund Regulatory and Development Authority. The scheme enables parents and guardians to open NPS accounts for minors, encouraging families to begin long-term financial planning at an early stage.
Parents, guardians and relatives can contribute subject to scheme provisions, while the account transitions to the regular NPS framework when the subscriber reaches adulthood.
Across Pune, Mumbai, Thane, Nagpur and Nashik, NPS Vatsalya has 23,558 subscribers and approximately ₹50 crore in AUM. Pune leads these five centres in subscriber numbers.
Pune has 7,679 NPS Vatsalya subscribers with ₹18 crore in AUM, followed by Mumbai with 7,558 subscribers and ₹21 crore in AUM. Thane has 5,292 subscribers and ₹8 crore in AUM, while Nagpur has 2,117 subscribers and ₹2 crore, and Nashik has 912 subscribers and ₹1 crore.
Pension Fund Regulatory and Development Authority Outlines Retirement Income Scheme
The Pension Fund Regulatory and Development Authority is also developing options to help subscribers manage retirement savings after they stop working.
The Retirement Income Scheme (RIS) is designed to allow eligible subscribers to remain invested during retirement, transitioning from the accumulation phase to the decumulation phase without further contributions.
The RIS provides two payout approaches: Systematic Payout Rate (SPR), which provides structured payouts based on a defined rate, and Systematic Unit Redemption (SUR), which involves redeeming a specified number of units.
PFRDA has also outlined revised exit provisions that allow eligible non-government subscribers to withdraw up to 80% of their corpus as a lump sum, subject to applicable rules. Government subscribers continue under the relevant 60:40 framework.
PRIDE-DISHA enables subscribers to compare historical net asset values across pension funds and schemes. Scheme risk meters are also intended to help subscribers understand investment risk. The release noted that historical returns do not guarantee future performance.
PFRDA Expands Pension Awareness Through Technology and Distribution
The Pension Fund Regulatory and Development Authority is engaging mutual fund distributors through StAR NPS to broaden pension awareness and distribution.
The Authority is also developing technology-enabled support and new offerings, including Pension Sahayak, an AI assistant designed to answer queries through text or voice in 22 languages.
Other initiatives include NPS Swasthya, an add-on health-cover offering, and NPS Central, a centralised onboarding platform under development.
Pandey highlighted the need to improve awareness of PFRDA and pension products, particularly among younger people.
Through simplified onboarding, community-level outreach, digital tools and distributor partnerships, the Pension Fund Regulatory and Development Authority aims to make retirement planning more accessible across employment categories and stages of life.
