PFRDA Targets 30 Crore Pension Subscribers in Five Years

Pension Fund Regulatory and Development Authority (PFRDA) plans to add 30 crore unique pension scheme members over the next four to five years. Right now, the authority manages 10 crore people under Atal Pension Yojana and 2.2 crore under National Pension Scheme.

Expanding pension reach

PFRDA Chairman Sivasubramanian Ramann said the main focus is bringing more rural residents, private sector employees, and gig workers into the system. To grow these numbers, the regulator holds over 350 public information campaigns across the country. New schemes like NPS Vatsalya, NPS Sanchay, and the upcoming NPS Swasthya help people save for retirement.

The authority focuses on digital sales to lower distributor costs and improve benefits for members. India has a retirement-income replacement rate of 35-40% today. PFRDA aims to raise this number to match global levels.