NPS Sanchay Scheme

NPS Sanchay Scheme Details at a Glance

Significance of NPS Sanchay

The NPS Sanchay scheme is designed to simplify NPS participation for people in the informal sector, including those with irregular or seasonal incomes.

The investment pattern for NPS Sanchay is aligned with the Investment Guidelines applicable to Government Sector schemes. The maximum permissible allocation is 25% in equity, 45% in corporate bonds and 65% in government securities. Limits of 10% for short term debt instruments and 5% for asset backed and trust structured investments also apply.

These are ceilings for each asset class, not a fixed split. Subscribers may change their Pension Fund and asset allocation, subject to the applicable PFRDA rules.

How It Differs From a Regular NPS Account

It is a simplified variant of NPS under the All Citizen Model and the Multiple Scheme Framework (MSF). It operates within the existing NPS architecture, with the same Central Recordkeeping Agencies, Pension Funds and regulatory oversight.

Compared with the standard NPS Tier I structure, NPS Sanchay allows lower initial and subsequent contribution amounts, with no mandatory annual minimum contribution. It follows a predefined investment pattern, while subscribers may change the Pension Fund and asset allocation subject to the applicable PFRDA rules.

How to Open an Account

Subscribers may open the NPS Sanchay account through PoPs, PoP Service Providers and online platforms. Banks and Common Service Centres may also provide onboarding support for NPS Sanchay. Follow this step-by-step guide to open an NPS Sanchay account:

1. Choose a PFRDA-registered Point of Presence or an online platform that offers the scheme.
2. Complete KYC with your Aadhaar, PAN or other accepted identity documents.
3. Select the scheme and your preferred Pension Fund.
4. Make the initial contribution and receive your Permanent Retirement Account Number (PRAN).
5. Nominate a beneficiary and keep the registered mobile number current.

NPS Sanchay Eligibility

The NPS Sanchay Scheme eligibility is specified in the PFRDA Circular No. PFRDA/2026/25/NPS-AGRI/01 dated 6 May 2026. Any citizen of India aged between 18 and 85 years can apply.

Age is assessed as of the date the application is submitted, not on the date the account is later activated. A citizen who is 84 years old on the submission date is therefore within the range under the circular wording.

KYC completion is required as part of the account-opening process.

Applicable Charges on NPS Sanchay Scheme

The scheme follows the applicable PoP charge structure prescribed by PFRDA, as amended from time to time. The revised structure takes effect from 1 October 2026:

• A one-time PoP onboarding charge of ₹200 per PRAN, collected through quarterly deductions of ₹50 by cancellation of units by the CRA. A reduced ₹100 charge may be applicable for fully digital onboarding, as determined by PFRDA.
• An annual PoP charge of 0.20% of assets under management, adjusted through NAV and payable quarterly. This charge does not apply to dormant accounts.
• Subscribers onboarded through eNPS and subsequently contributing through eNPS or D-Remit are not charged PoP fees.
• Subscribers onboarded through a PoP remain subject to applicable PoP charges.

The revised structure removes the earlier distinction between common schemes and Multiple Scheme Framework schemes. Custodian, CRA, Pension Fund and other applicable charges, along with GST, continue to apply separately. Confirm the charge that applies to your account with your Point of Presence before opening it.

Withdrawal and Exit Rules

The PFRDA circular provides that the Exits and Withdrawals under NPS Regulations, 2015 apply to it mutatis mutandis (with necessary changes). The rules below reflect the revised exit framework applicable to non-government subscribers.

Upon completion of three years of subscription, withdrawals up to 25% of the subscriber’s own contributions are allowed for certain reasons, depending on the applicable conditions.

NPS Sanchay Pension Yatra

PFRDA has announced the NPS Sanchay Pension Yatra, starting on 1 October 2026, which is observed as NPS Diwas. Four yatras run from Delhi, Ahmedabad, Bengaluru and Kolkata for 15 days each, with 12 more planned over the following six months. The Yatra provides assisted access to NPS account opening through Tatkal NPS and other onboarding channels.

Key Takeaways

The NPS Sanchay scheme widens access to the National Pension System for citizens aged 18 to 85, with very small contributions and no mandatory annual minimum. The contribution rules, investment pattern, charges and exit provisions should be read with the latest PFRDA regulations, circulars and operational guidelines, and confirmed with your Point of Presence.