The Pension Fund Regulatory and Development Authority (PFRDA), on January 07, 2026, notified regarding the Operational Guidelines on New Enrolment Incentive (NEI) under Multiple Scheme Framework (MSF).
The following has been stated namely: -
• The NEI shall be ascertained based on the review conducted by the Authority at the expiry of each period of 12 months from the date of the scheme approval. This incentive will be available for a period of three years from the date of approval of a scheme or until the scheme onboards fifty lakh subscribers, whichever is earlier.
• The NEI is intended to incentivise the outreach efforts of PFs aimed at expanding NPS coverage through the onboarding of new subscribers under the MSF. Eligible PFs shall be paid NEI by the Association of NPS Intermediaries (ANI).
• With effect from April 01, 2026, ANI shall receive 0.0025% of Assets under Management (AUM) for undertaking outreach, pension literacy and awareness initiatives for the promotion of NPS. The proposed NEI payment framework envisages ANI supporting system-wide growth and awareness initiatives, while PFs focus on scheme-specific efforts for enrolling new subscribers.
[Notification no. PFRDA/2026/03/REG-PF/01]
