Mumbai: KFin Technologies Limited (KFintech), a Central Recordkeeping Agency (CRA) under the National Pension System (NPS), has enabled instant withdrawal functionality under the NPS Swasthya Scheme.
The initiative is aimed at helping subscribers manage healthcare expenses within the broader NPS framework while safeguarding their long-term retirement corpus.
The NPS Swasthya Scheme withdrawal facility has been enabled in partnership with Apollo 24/7 and is available as a payment option on the Apollo 24/7 Payment App and portal.
Subscribers can link their NPS Swasthya account with the Apollo 24/7 Payment app and pay for medical expenses as seamlessly as making a UPI payment.
Under the NPS Swasthya Scheme, subscribers can pay eligible medical expenses using their NPS Swasthya contribution, while the remaining retirement corpus continues to remain invested for the future.
The initiative is designed to help individuals address real-life healthcare needs without compromising long-term financial discipline for retirement planning.
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As the CRA under the National Pension System, KFintech plays a central role in the execution of the NPS Swasthya Scheme. The company is responsible for account validation, transaction processing, and settlement within the NPS system.
When an eligible healthcare payment is initiated through the designated partner network, the request is securely validated, the required units are redeemed as per applicable rules, and the payment is directly settled with the healthcare provider.
This structured process under the NPS Swasthya Scheme ensures a smooth, transparent, and compliant experience for subscribers, maintaining governance standards while enabling flexibility within the pension system.
Registration for investments in the NPS Swasthya Scheme is available through the Apollo 24/7 App as well as on the website of ICICI Prudential Pension Funds.
NPS Swasthya Scheme: Advancing Financial Inclusion with Responsive Retirement Solutions
Sreekanth Nadella, Managing Director and CEO, KFin Technologies Limited, said: “The NPS Swasthya Proof of Concept reflects a progressive step towards advancing financial inclusion by making retirement solutions more responsive to essential life stage needs such as healthcare, within a regulated framework.
Enabling such flexibility within a long-term retirement system requires a robust technology and recordkeeping infrastructure to ensure governance, transparency, and rule-based processing, rather than discretionary access to funds.
As the Central Recordkeeping Agency, KFintech’s digital architecture ensures secure validation, compliant unit redemption, and auditable transaction flows, thereby delivering a seamless experience for subscribers while safeguarding the continuity and integrity of their retirement corpus.”
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The rollout of the NPS Swasthya Scheme highlights the growing role of technology-led recordkeeping infrastructure in enabling regulatory innovation within the NPS ecosystem.
Implemented under the Sandbox framework, the initiative supports seamless execution, strong governance, and improved accessibility for subscribers seeking healthcare-related financial flexibility within their pension structure.
