NPS Sanchay Scheme

Scheme Introduction: A Brief Overview

To expand pension coverage and make retirement planning more accessible for ordinary citizens, the Pension Fund Regulatory and Development Authority (PFRDA) has introduced "NPS Sanchay Scheme", a simplified version of the National Pension System (NPS) under the All Citizen Model and Multi Scheme Framework (MSF).

India's informal sector employs nearly 90% of the country's workforce, yet many workers still remain outside formal pension coverage. To address this gap, NPS Sanchay Scheme has been introduced with a simplified structure that makes pension participation and investment selection easier, especially for workers from the informal and unorganized sectors.

Under the scheme, eligible Indian citizens aged 18 to 85 years can open a pension account either online or through authorized Point of Presence (PoP) centers and begin building long-term retirement savings within a regulated pension framework. The scheme also provides flexibility to change pension funds and investment choices according to applicable NPS guidelines.

Through this initiative, PFRDA aims to strengthen financial inclusion, improve retirement preparedness, and encourage organized pension savings among citizens across different income groups. The circular introducing NPS Sanchay Scheme came into effect from 06 May 2026.

As part of PFRDA's broader efforts to expand pension coverage and improve retirement security, several pension initiatives have been introduced over time for different categories of subscribers. Along with NPS Sanchay Scheme, important schemes under this pension ecosystem include the Atal Pension Yojana (APY) for workers in the unorganized sector, the National Pension System (NPS) for voluntary retirement savings and market-linked pension benefits, and the NPS Vatsalya Scheme, which encourages early retirement planning and long-term savings for children.

Scheme Benefits

• Simplified version of the National Pension System (NPS)
• Designed to reduce complexity in investment selection
• Simplified asset allocation structure
• Intended to improve pension accessibility for workers from the informal and unorganized sectors
• Open to all eligible Indian citizens under the prescribed age criteria
• Available through all registered Pension Funds
• Option to change Pension Fund and investment choices
• Covered under existing NPS withdrawal and exit regulations
• Provides long-term retirement savings support

Multi Scheme Framework (MSF)

• MSF stands for Multi Scheme Framework, a regulatory structure prescribed by PFRDA
• It allows registered Pension Funds to launch pension schemes under a common regulatory framework
• Under MSF, all terms and conditions of the schemes remain identical to those applicable under the existing NPS framework
• The only exception is the investment pattern, which is governed separately by specific guidelines prescribed for each scheme
• NPS Sanchay Scheme is available under both the All Citizen Model and the Multi Scheme Framework (MSF)
• This makes NPS Sanchay Scheme accessible through all Pension Funds registered with PFRDA

Eligibility Requirements

• The applicant must be a citizen of India
• The applicant must be between 18 years and 85 years of age
• The pension account can be opened through:
  • Point of Presence (PoP) / PoP-Service Provider (PoP-SP), or
  • Online platform

Investment Pattern

The investment structure of NPS Sanchay Scheme will follow the investment guidelines prescribed by the Pension Fund Regulatory and Development Authority (PFRDA) for government-sector pension schemes under the National Pension System framework.

According to the circular, the investment pattern aligns with the framework applicable to:

• UPS / NPS / APY Schemes - Central and State Government (Default)
• Corporate CG Schemes
• NPS Lite
• Atal Pension Yojana (APY) and APY Fund Scheme

The scheme will be implemented and made available across all Pension Funds registered with the Pension Fund Regulatory and Development Authority (PFRDA).

Exit and Withdrawal Rules

The rules related to exit, premature withdrawal, and partial withdrawal under NPS Sanchay Scheme will follow the existing National Pension System (NPS) regulations issued by the Pension Fund Regulatory and Development Authority (PFRDA), including future amendments and guidelines issued from time to time.

These rules broadly cover:

• Normal exit from NPS
• Premature exit before the eligible age
• Partial withdrawal from pension corpus
• Lump sum withdrawal provisions
• Annuity purchase requirements
• Systematic Lump Sum Withdrawal (SLW)
• Systematic Unit Withdrawal (SUR)
• Withdrawal provisions for nominees in case of death of the subscriber

In December 2025, PFRDA amended the NPS exit regulations to provide more flexible withdrawal provisions, including revised corpus thresholds, increased lumpsum withdrawal limits, and simplified withdrawal options. These updated rules apply to NPS Sanchay Scheme as well.

Change of Pension Fund and Investment Choice

Subscribers are allowed to:

• Change their Pension Fund
• Change Asset Allocation
• Modify Investment Choice

as per the rules and guidelines applicable to the All Citizen Model of NPS.

Required Documents

Subscribers are required to complete mandatory KYC compliance and submit the documents prescribed under the Subscriber Registration Form (SRF) and applicable NPS registration guidelines.

Generally, documents commonly required during NPS registration may include:

• Identity proof
• Address proof
• Age proof
• Photograph
• Bank account details
• PAN Card and Aadhaar Card as applicable under KYC guidelines
• Other documents as required by the Point of Presence (PoP), PoP-Service Provider (PoP-SP), or online registration platform

The exact document requirements may vary depending on the mode of registration and applicable KYC guidelines.

Steps to Apply

Eligible applicants can enroll in the NPS Sanchay Scheme either online through the official NPS onboarding platforms or offline by visiting an authorized Point of Presence (PoP) or PoP-Service Provider (PoP-SP). The application process for each mode is explained below.

Online Application Process Through Protean

• Visit the official Protean NPS registration portal.
• Scroll down a little and click on the "Register Now" under the NPS Sanchay
• Enter your Mobile Number, Email ID, PAN Number, Name as per PAN, and Date of Birth.
• Accept the CKYC, Re-KYC, DPDP, PFRDA Guidelines, and FATCA consent by selecting the required checkbox.
• Click on the Submit button to proceed.
• Complete the OTP verification sent to your registered mobile number and email address.
• Fill in the remaining Subscriber Registration Form (SRF) with your personal, nominee, and bank account details.
• Complete the prescribed KYC verification and upload the required documents, if applicable.
• Select NPS Sanchay Scheme, wherever the option is available.
• Make the initial contribution of at least ₹500 through the available online payment options.
• After successful verification and payment, your Permanent Retirement Account Number (PRAN) will be generated and your NPS account will be activated.
• Download or save the acknowledgement receipt and PRAN for future reference.

Online Application Process Through KFintech

• Visit the official KFintech NPS registration portal.
• Click on the "Join NPS" option.
• Select "Individual Subscriber" to start the Subscriber Registration Form (SRF).
• Enter your Name (as per PAN Card), Mobile Number, PAN Number, Date of Birth, and Email ID.
• Click on the "Create Account" button.
• Complete the Aadhaar Online KYC process as prescribed.
• Fill in the remaining personal, nominee, and bank account details.
• Select NPS Sanchay Scheme, wherever the option is available.
• Pay an initial contribution of at least ₹500 through the available online payment gateway.
• After successful payment and verification, your Permanent Retirement Account Number (PRAN) will be generated and your NPS Sanchay Scheme account will be activated.
• Download or save the acknowledgement receipt and PRAN for future reference.

Online Application Process Through CAMS NPS

• Visit the official CAMS NPS registration portal and tap on the Join NPS button.
• Choose the NPS option and fill your Subscriber Registration Form (SRF).
• Complete the required KYC verification.
• Select NPS Sanchay Scheme, wherever available.
• Make the initial contribution through the available online payment methods.
• After successful verification, your PRAN will be issued and the account will be activated.
• Save the acknowledgement and PRAN details for future reference.

Offline Application Process

• Visit any authorized Point of Presence (PoP) or PoP-Service Provider (PoP-SP), such as participating bank branches or post offices offering NPS services.
• Obtain the Subscriber Registration Form (SRF) and fill in the required details.
• Submit the completed form along with the prescribed KYC documents.
• Inform the concerned official that you wish to enroll under the NPS Sanchay Scheme.
• Deposit the initial contribution as prescribed.
• After successful verification and processing, your PRAN will be generated.
• Collect the acknowledgement receipt and keep your PRAN safely for future reference.

Relevant Links

• NPS Sanchay Online Registration through protean
• NPS Sanchay Online Registration through KFintech
• NPS Sanchay Online Registration through CAMS NPS
• Official Website of PFRDA (Pension Fund Regulatory and Development Authority)
• NPS Sanchay Scheme Scheme Official Guidelines

Contact Information

• NPS Toll Free Number: 1800110708
• Phone Number: 011-26517501 / 26517503
• Department Name Pension Fund Regulatory and Development Authority (PFRDA)
• Address: 5th Floor, Tower E, World Trade Center, Nauroji Nagar, New Delhi – 110029