The Pension Fund Regulatory and Development Authority (PFRDA), on January 27, 2026, issued the introduction of ‘NPS Swasthya Pension Scheme’ as a Proof of Concept under the Regulatory Sandbox Framework.
• The NPS Swasthya Pension Scheme shall be introduced as a specific sector scheme under the NPS, intended exclusively to provide financial support for out-patient and in-patient medical expenses, within the framework of the Multiple Scheme Framework (‘MSF’). The Scheme shall be a contributory pension scheme, governed by the provisions of section 12(1)(a) and section 20 of the PFRDA Act and shall be offered to citizens of India voluntarily.
• The Scheme shall be launched by Pension Funds (‘PFs’), subject to prior approval of the Authority, strictly as a Proof of Concept, for a limited duration and shall operate in a controlled environment under the Regulatory Sandbox Framework. PFs may also collaborate with FinTechs and other such entities for carrying out such PoC. For this PoC, provisions of PFRDA (Exits and Withdrawals under NPS) Regulations, 2015 have been relaxed under the Regulatory Sandbox Framework.
[Notification no. PFRDA/2026/07/SUP-CRA/02]
