NPS Diwas: PFRDA launches awareness drive for Sanchay pension scheme — here’s what you need to know
The Pension Fund Regulatory and Development Authority (PFRDA) has announced the NPS Sanchay Pension Yatra on NPS Diwas 2026, a pension-awareness initiative that will be held across four cities from 1 October to 16 October 2026.
In an X post, PFRDA said, “Whether your income is high or low, preparing for a secure future is essential for everyone. Through the NPS Sanchay Pension Yatra, pension awareness is being extended to various cities across the country.”
The pension awareness drive will be held from 1 October to 16 October 2026 across Delhi, Ahmedabad, Bengaluru and Kolkata. The Yatra aims to raise awareness about retirement savings and NPS Sanchay among people. Here’s what you need to know about the NPS Sanchay scheme.
What is NPS Sanchay?
NPS Sanchay is a retirement-focused scheme under the All Citizen Model and Multiple Scheme Framework (MSF) of the National Pension System (NPS), aimed at people working in the informal sector. It was introduced on 6 May 2026.
It is designed to make retirement investing simpler for people who may not have extensive knowledge or investment experience. Instead of requiring subscribers to actively make asset-allocation decisions, NPS Sanchay follows a predefined investment approach aligned with government sector schemes.
Who can apply for NPS Sanchay?
Although NPS Sanchay is intended to widen pension coverage among informal-sector workers, the scheme is available to all eligible Indian citizens. Daily wage earners, shopkeepers, gig and platform workers, farmers and small-business owners can consider it for retirement savings.
Individuals who are aged between 18 and 85 years can open an NPS Sanchay account through an authorised Point of Presence (PoP) or an approved online platform.
How does NPS Sanchay work?
NPS Sanchay allows individuals to begin investing with ₹250, while subsequent contributions can be as low as ₹10. There is also no mandatory annual contribution requirement, allowing subscribers to contribute according to their financial capacity and applicable NPS rules.
The investments are managed by registered Pension Fund Managers, while the scheme operates under the regulatory framework of PFRDA. Contributions to NPS Sanchay are also eligible for tax benefits under applicable provisions of the Income Tax Act.
Subscribers can also switch their Pension Fund once in a financial year and change their investment choice up to four times in a financial year. The scheme permits partial withdrawals of up to 25% of the subscriber’s own contributions, with up to four such withdrawals allowed before age 60. After 60, withdrawals are not capped, but there must be a gap of at least three years between them.
Subscribers can withdraw after 15 years of subscription or on reaching 60 years of age, whichever is earlier. Up to 80% of the accumulated corpus can be taken as a lump sum, while at least 20% must be used to purchase an annuity that provides a regular pension.
Highlighting the importance of starting early, PFRDA said in a post, “Regular savings in NPS today can become the strong foundation of financial security tomorrow.” It concluded the post by mentioning, “NPS savings for pension is the right step.”
Disclaimer: This is for informational purposes only. Please visit the official website for the latest updates.
