Business EconomyPosted at: Oct 1 2026 6:42PM


PFRDA targets 2-3 cr new NPS subscribers to broaden beneficiary base of NPS

Sourav Shekhar
New Delhi, Oct 1 (UNI) The Pension Fund Regulatory and Development Authority (PFRDA) is targeting 2-3 crore additional subscribers under the National Pension System (NPS) over the next two years as it seeks to expand pension coverage among private-sector and informal workers.
The roadmap was discussed at an event held here on Thursday under the theme "India's Pension Future: A National Agenda for Inclusive and Technology-Enabled Retirement Security."
PFRDA is planning to use digital platforms and UPI-based account opening to make NPS more accessible, particularly for informal workers, self-employed people, merchants and small business owners.
Under the NPS Tatkal initiative, individuals will be able to open an NPS account through a UPI platform and make contributions using their existing bank accounts.
The process is aimed at simplifying onboarding and making pension savings more accessible to a wider section of people.
Five large banks are currently part of the NPS Tatkal initiative, while Common Service Centres will also be used to expand onboarding, particularly in smaller towns and among people who may have limited access to conventional financial services.
NPS and Atal Pension Yojana together crossed 10 crore subscribers in September 2026. PFRDA is looking to further expand participation as it seeks to bring more workers outside the government and organised corporate sectors into the pension system.
The regulator is also examining new investment avenues for pension funds. It is considering allowing direct investment in large infrastructure projects within the next two years, which could provide another avenue for deploying long-term pension savings.
Pension funds already have exposure to infrastructure through instruments such as Infrastructure Investment Trusts (InvITs) and Real Estate Investment Trusts (REITs). Investments through Alternative Investment Funds (AIFs) are also among the avenues available to pension funds.
PFRDA is simultaneously working on products aimed at making retirement planning simpler for subscribers. NPS Sanchay provides a default investment option for non-government subscribers who may not want to make their own asset-allocation decisions.
The regulator has also introduced NPS Swasthya, combining an NPS account with additional health insurance cover.
The initiatives form part of PFRDA's wider efforts to expand pension coverage through technology, simplify access to NPS and bring a larger section of India's workforce into formal retirement savings.
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