The Pension Fund Regulatory and Development Authority (PFRDA) is aiming to build a pension corpus of ₹100 lakh crore much earlier than 2040. PFRDA Chairman S. Raman shared this target during a media interaction at the ‘Leadership Event on NPS Tatkal’ in Mumbai on Wednesday.
Raman said the growing popularity of the National Pension System (NPS), along with easier digital services and awareness campaigns, could help the regulator achieve this milestone ahead of schedule. He also expects the scheme to attract 4 crore to 5 crore additional subscribers over the next two to three years.
PFRDA Wants to Achieve the ₹100 Lakh Crore Target Early
According to S. Raman, the pension corpus could reach ₹100 lakh crore by 2040 if the current growth trend continues. However, the regulator is working towards achieving this goal much sooner.
He attributed the expected growth to the expansion of digital services and continued efforts to educate people about retirement savings. Raman stressed that public awareness campaigns must be conducted consistently every year rather than being limited to a one-time initiative.
He also expressed confidence in the NPS growth trajectory, saying the ₹100 lakh crore milestone could be reached naturally as the scheme expands.
Pension Funds Can Support India’s Infrastructure Development
The PFRDA Chairman also highlighted the connection between pension savings and the country’s economic development. He explained that pension funds play an important role in financing infrastructure projects in several countries.
According to Raman, investments made through NPS funds can contribute to nation-building while also helping individuals build financial security for retirement. In this way, regular contributions from subscribers can support long-term investments in projects such as roads and other infrastructure.
He said retirement protection and infrastructure development should progress together.
NPS to Become Easier for Gig and Unorganised Sector Workers
Raman placed special emphasis on bringing low-income earners, gig workers and people employed in the unorganised sector into the pension system.
He noted that individuals without fixed monthly salaries often need to maintain sufficient cash in hand to manage their daily expenses. This can make regular retirement savings difficult.
To address this challenge, PFRDA wants to make NPS more flexible and accessible, allowing people to contribute according to their financial capacity. Raman said the aim is to make NPS one of the easiest savings options for these groups.
Start Saving with ₹10 Through UPI
Raman explained that NPS subscribers can contribute as little as ₹10 per transaction through UPI. Deposits can be made at different intervals according to the subscriber’s preference, and the system does not charge transaction fees, as stated by the Chairman.
For example, contributing ₹10 every day would add ₹300 to a pension account over 30 days. The minimum contribution for an individual transaction is ₹10, while the minimum amount required to open an NPS account is ₹250.
Raman emphasised that developing a regular savings habit is more important than starting with a large contribution.
NPS Tatkal Account Opening in Just Three Clicks
PFRDA is also working to simplify the process of opening an NPS account through its NPS Tatkal facility. The service is designed to let customers use their existing banking and UPI details instead of entering their personal information again.
According to Raman, the account-opening process is intended to be completed in just three clicks, with the account ready in around 10 seconds.
The initiative aims to make pension enrolment faster and more convenient, encouraging more people to begin saving for their retirement.