The Pension Fund Regulatory and Development Authority (PFRDA) on December 31, 2025, issued a notification regarding the introduction of Policy Reforms to Promote Sustainable Growth of NPS.
The following has been stated: -
•PFRDA has approved a framework allowing Scheduled Commercial Banks to independently sponsor Pension Funds for NPS, subject to robust eligibility and prudential norms.
•Three new trustees have been appointed to the NPS Trust Board, with Shri Dinesh Kumar Khara designated as Chairperson.
•PFRDA has revised the Investment Management Fee (IMF) structure for Non-Government sector subscribers, effective April 01, 2026, introducing slab-based differentiated rates.
•The Annual Regulatory Fee remains unchanged, with a portion allocated to the Association of NPS Intermediaries to strengthen NPS outreach and financial literacy.
The detailed notification is given in the document below.
