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PFRDA Targets 3 Crore New NPS Subscribers with UPI, New Products
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Moneycontrol•01-10-2026, 14:16
PFRDA Targets 3 Crore New NPS Subscribers with UPI, New Products
- •PFRDA aims to add 3 crore new National Pension System (NPS) subscribers in two years, focusing on expanding pension coverage, especially outside the government sector.
- •Technology-led onboarding, including UPI-based account opening via "NPS tatkal," will simplify the process, leveraging existing bank KYC information.
- •The NPS and Atal Pension Yojana (APY) combined have surpassed 10 crore subscribers and Rs 18 lakh crore in assets under management by September 2026.
- •PFRDA introduced NPS Swasthya, a product combining an NPS account with a family floater super top-up health insurance policy, allowing up to 25% of NPS contributions for hospital expenses.
- •PFRDA is exploring direct investments in infrastructure projects and simplifying investment choices for subscribers, with a broader goal of "Pension for All" by 2047.
Key Questions Answered
The Pension Fund Regulatory and Development Authority is targeting around 3 crore additional National Pension System subscribers over the next two years by introducing new products and UPI-linked account opening methods.
NPS Swasthya combines a National Pension System account with a family floater super top-up health insurance policy offering coverage of up to Rs 30 lakh. Subscribers are allowed to use up to 25 percent of their pension contributions for hospital expenses directly settled with hospitals.
The National Pension System and Atal Pension Yojana together crossed 10 crore subscribers by September 2026, while their total assets under management reached approximately Rs 18 lakh crore.
