Eligibility

Any citizen of India between the age of 18 years and 85 years.

Investment Pattern

• Follows the extant Investment Guidelines applicable to Government Sector schemes — UPS/NPS (Central Government, State Government, Corporate CG), NPS Lite, Atal Pension Yojana (APY) and APY Fund Scheme — as prescribed under PFRDA Master Circular No. PFRDA/Master Circular/2025/05/PF-03 dated 10.12.2025 which permits the following allocation: - Government Securities (G) up to 65%; - Corporate Bonds (C) up to 45%; - Equity (E) up to 25%.
• The default design eliminates the need for any active investment decision by the subscriber at the time of enrolment. The subscriber retains the option to switch to any other scheme under the Common Schemes or Multi Scheme Framework (MSF) at any time. NPS Sanchay is available across all Pension Funds registered with PFRDA.

Contributions

• Initial contribution at the time of account opening: Rs. 250/-.
• Subsequent minimum contribution: Rs. 10/- per contribution.
• No minimum annual contribution requirement — contributions may be made at any time and in any amount, making NPS Sanchay suitable for subscribers with irregular or seasonal income.

Charge Structure - Common Scheme

• One Time Onboarding Charge: Rs. 200/- per new account (Rs. 50/- on quarterly basis, deducted through cancellation of units by the CRA, payable to PoP in the month subsequent to the quarter of onboarding).
• PoP charges: 0.20% of AUM per annum.
• Custodian charges, CRA charges, PF charges, and NPS Trust charges are applicable over and above the foregoing, as determined by PFRDA.

Charge Structure - MSF Scheme

• Total charges upto 0.30% of the AUM p.a. may be levied and recovered from the scheme launched under this framework, by the respective Pension Fund (PF). The above charges shall include the IMF payable to PF which shall be as prescribed by PFRDA, distribution and awareness charges to the PoP as determined by the PF, as prescribed by PFRDA.
• Custodian charges, CRA charges, and NPS Trust charges are applicable over and above the foregoing, as prescribed by PFRDA

Incentive

Pension Agent Incentive: Rs. 100/- per NPS Sanchay account, payable to PoPs for accounts facilitated through eligible grassroots Pension Agents (CSC-VLEs, BCs, Pension Sakhis, Farmer Producer Organizations (FPOs), and Primary Agricultural Credit Societies (PACS)), over and above standard PoP charges

Flexibility — Pension Fund and Investment Option

• Pension Fund: May be changed once per financial year.
• Investment Option / Asset Allocation: May be changed up to four times per financial year.
• Switching: Subscriber may switch to any scheme under the All Citizen Model at any time

Partial Withdrawal

Permitted up to 4 times before the age of 60, with a minimum interval of 4 years between two withdrawals.

• Amount: Up to 25% of the subscriber's own contributions.

Permissible purposes:

1. Higher education of subscriber/children;
2. Marriage of children;
3. Purchase or construction of a residential house — one-time;
4. Medical treatment or hospitalisation of subscriber/spouse/children/parents — broadened to any medical treatment/hospitalisation, without restriction to a specified illness list;
5. Settlement of a financial obligation taken from a regulated financial institution against lien/charge on the NPS account.

Post age 60: No frequency limit; minimum interval of 3 years between two withdrawals.

Premature Exit

5. This provision applies to exits prior to the completion of the 15-year vesting period.
5. Up to 20% of corpus as lumpsum; at least 80% for annuity purchase (unchanged).
5. Corpus up to Rs. 5 lakh: 100% lumpsum, or Systematic Lumpsum Withdrawal (SLW) or Systematic Unit Withdrawal (SUR) also available as alternatives.
5. Corpus above Rs. 5 lakh: Up to 20% lumpsum; at least 80% annuity.

Exit due to Death

• 100% of accumulated corpus payable to the nominee/legal heir as lumpsum.
• Option for annuity purchase also available, if desired by the nominee.
• Systematic Lumpsum Withdrawal (SLW) or Systematic Unit Withdrawal (SUR) options are also available to the nominee

Normal Exit

5. Vesting Period: 15 years of subscription or 60 years of age, whichever is earlier.
5. Lock-in period for premature exit: Removed — no minimum lock-in period is required under the revised Exit Regulations.
5. Lumpsum at Normal Exit: Up to 80% of accumulated corpus; at least 20% mandatorily used for annuity purchase.
5. Corpus up to Rs. 8 lakh: 100% lumpsum, or Systematic Lumpsum Withdrawal (SLW), or Systematic Unit Withdrawal (SUR) also available as alternatives.
5. Corpus between Rs. 8 lakh and Rs. 12 lakh: Up to Rs. 6 lakh as lumpsum and balance as SUR for minimum 6 years or annuity — or up to 80% lumpsum with at least 20% annuity.
5. Corpus above Rs. 12 lakh: Up to 80% lumpsum; at least 20% annuity.
5. Automatic continuation: The 15-day prior intimation requirement has been removed — subscribers automatically continue under NPS.

Financial Assistance against NPS Corpus

• Subscribers may avail financial assistance from a regulated financial institution.
• The Bank may mark a lien or charge on the individual pension account up to 25% of the subscriber's own contributions — within partial withdrawal limits.
• To be governed by Guidelines issued by the Authority.