The Pension Fund Regulatory and Development Authority (PFRDA) is planning to make major changes in the National Pension Scheme (NPS) with a proposal to add three new pension schemes to cater to the growing demand for flexibility, assured benefits, and predictable retirement income. The regulator has released a consultation paper, seeking feedback from stakeholders, including subscribers, pension funds, industry experts, and the general public, by October 31, 2025.

What Are Three Pension Schemes Proposed In Paper?

The regulator noted that while the existing NPS offers transparency and growth, it leaves gaps regarding corpus adequacy and income predictability, particularly amid market volatility and increasing life expectancy.

To bridge these concerns, PFRDA has outlined three options:

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