PFRDA launches NPS Sanchay Scheme

• Manish Kumar
• 07 May 2026
• 38 Views

On May 6 2026, the Pension Fund Regulatory and Development Authority (PFRDA) announced the launch of NPS Sanchay Scheme. This new scheme aims to support individuals who are employed in the informal sector, who account for nearly 90% of the workforce in India. 

In a circular dated 6 May 2026, PFRDA stated the following: “The default design of this scheme is intended to reduce complexities associated with selection of investment options and determination of asset allocation, while also addressing constraints arising from limited advisory support at the last-mile level.”

If you are interested in investing under this scheme, it is necessary that you learn about its eligibility requirements and guidelines.

What is NPS Sanchay?

NPS Sanchay is basically a simplified version of the National Pension System (NPS) under the All Citizen Model and the Multiple Scheme Framework (MSF). The All Citizen Model is a voluntary, market-linked retirement scheme, while the Multiple Scheme Framework (MSF) allows subscribers to manage multiple pension fund schemes using a single account. 

Eligibility for NPS Sanchay Scheme 2026

The eligibility requirements for the scheme are as follows:

• The individual must be a citizen of India.

• They must be between 18 to 85 years of age.

• They must have a National Pension System (NPS) account to be able to invest under the NPS sanchay scheme. The account can be opened online on an instant basis via the official eNPS portal or KFintech. Alternatively, it can be opened offline by visiting a bank or a financial institution registered as a Point of Presence (POP-SP).

Guidelines for NPS Sanchay Scheme

The guidelines for the scheme are as follows:

• The PFRDA NPS Sanchay scheme will be in alignment with the existing investment guidelines that apply to the government sector schemes like Unified Pension Scheme, National Pension Scheme and Atal Pension Yojana. It will be accessible across all the pension funds that are PFRDA-registered. 

• According to the PFRDA circular, the provisions for exits and partial withdrawals for the new scheme will adhere to the existing guidelines and directions applicable to other pension schemes. 

• Subscriber charges, contribution limits and related norms for the new scheme will follow those applicable to Points of Presence (PoP) services under the common NPS schemes. 

• Subscribers will have the ability to change their Pension Fund and asset allocation in accordance with the regulations and guidelines issued by the Authority for the All Citizen Model as updated from time to time. 

To know more about the scheme, check out the official circular for NPS Sanchay released by PFRDA on its official website on 6 May 2026.