The Pension Fund Regulatory and Development Authority (PFRDA) on May 06, 2026, notified regarding the Introduction of ‘NPS Sanchay’ (simplified NPS Variant) under the All Citizen Model and MSF Framework for the Informal Sector
The following has been stated:
• The framework aims at expanding pension coverage for India’s large informal workforce. The scheme is designed to simplify investment selection and asset allocation for subscribers with limited access to financial advisory services. Any Indian citizen aged between 18 and 85 years can enroll through PoPs, PoP-SPs, or online platforms, subject to KYC compliance.
• The investment pattern will follow the existing Government Sector investment guidelines applicable to NPS, UPS, APY, and related schemes, and the scheme will be available across all registered pension funds. Existing NPS rules relating to exits and partial withdrawals will apply to NPS Sanchay.
• The charge structure, contribution requirements, pension fund change facility, and asset allocation options will remain aligned with the existing NPS common schemes framework unless otherwise specified by the Authority. Pension Funds will also be allowed to launch MSF schemes under the same framework with identical conditions, except for the prescribed investment pattern.
• The circular has come into effect immediately.
[Notification no. - PFRDA/2026/25/NPS-AGRI/01]
