The National Pension System (NPS) is set for a major revamp after the Pension Fund Regulatory and Development Authority (PFRDA) unveiled a new scheme framework on September 16. The proposal, which is aimed at making the retirement savings plan more flexible and attractive, includes sweeping changes in investment choices, exit rules, and withdrawal options.

What’s New?

Multiple Schemes: Pension fund managers (PFMs) can now launch more than one tailored scheme, compared to just one earlier.

100% Equity Option: PFMs will be allowed to offer schemes with full equity exposure (versus the earlier 75% cap), from October 1, 2025.

Multiple Investments: Subscribers will be able to invest in more than one scheme per tier, giving them wider choices.

Common Schemes: The existing NPS schemes will b

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