Pension Fund Regulatory and Development Authority
- Company typePrivate
- Founded2003
- HeadquartersNew Delhi, India
- Headcount51–100
- GTM typeB2B and B2C
- OfferingServices
Pension Fund Regulatory and Development Authority firmographics
Firmographics- Name
- Pension Fund Regulatory and Development Authority
- Legal name
- Pension Fund Regulatory and Development Authority
- Website
- https://pfrda.org.in
- Company type
- Private
- Founded year
- 2003
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Ownership category
- akta.pro rank
Pension Fund Regulatory and Development Authority industry classification
Industry- Product category
- Pension Fund Regulation and Retirement Savings Administration
- NAICS
- Pension Funds (52511), Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds (524292), Pension Funds (525110)
- SIC
- Federal & Federally-Sponsored Credit Agencies (6111)
- akta.pro primary industry
- Pensions & Retirement Benefits Administration (BPAIAKAA)
- akta.pro secondary industries
- Corporate & Public Pension Funds (DB/DC Sponsors) (FSAAAGAA), Pension Master Trusts, Superannuation & Provident Funds (FSAAAGAB)
Keywords
Where Pension Fund Regulatory and Development Authority is headquartered
LocationHeadquarters
- HQ city
- New Delhi
- HQ country
- India
- HQ region
- Asia
Offices1 record
Markets served
Pension Fund Regulatory and Development Authority business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations, Others
Revenue model
- Annual Maintenance Charges (AMC) on NPS Accounts: PFRDA charges Annual Maintenance Charges on NPS Tier I and Tier II accounts. Effective July 1, 2026, Tier II account AMC is aligned with Tier I within the same sector. Each pension scheme under a PRAN is treated as a separate charging unit.
- NPS Onboarding Fee: StAR NPS platform charges Rs 200 plus applicable taxes for subscriber enrollment. This onboarding charge is borne by the subscriber and covers the cost of PRAN generation and account setup.
- Point of Presence Commission Structure: PFRDA revised commission structure for NPS distributors allowing Points of Presence to earn 0.20% trail commission on AUM plus one-time Rs 200 onboarding fee per new client. Experts note NPS commissions remain lower than mutual fund commissions.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | NPS Tier I Annual Maintenance Charge |
| Subscription | Annual | NPS Tier II Annual Maintenance Charge |
| One time/ perpetual license | Pay-as-you-go | StAR NPS Onboarding Fee |
| Transaction based/ take rate | Monthly | PoP Trail Commission on AUM |
Go-to-market motion3 records
Distribution channels5 records
Marketing channels7 records
Pension Fund Regulatory and Development Authority product offering
Product offeringCore offering
PFRDA is India's statutory pension sector regulator that promotes, develops, and regulates pension schemes including the National Pension System (NPS), Atal Pension Yojana (APY), Unified Pension Scheme (UPS), NPS Vatsalya for minors, and NPS Swasthya for health-linked retirement savings. The authority provides regulatory oversight for pension intermediaries, manages subscriber onboarding through Points of Presence and digital platforms, and enables structured retirement savings products serving over 9.64 crore combined subscribers with Rs 16.55 lakh crore AUM.
Product overview
PFRDA operates a comprehensive pension regulatory ecosystem comprising the National Pension System (NPS) as the core platform for retirement savings, supplemented by the Atal Pension Yojana (APY) for unorganized sector workers, NPS Vatsalya for minors, and the Unified Pension Scheme (UPS) for government employees. Supporting digital infrastructure includes StAR NPS for streamlined onboarding, PFRDA Pension Sahayak for AI-powered grievance redressal, and NPS Swasthya for health-integrated retirement savings. The Retirement Income Scheme (RIS) provides flexible drawdown options while NPS Sanchay offers simplified access for informal sector workers. The Multiple Scheme Framework enables portfolio customization. As of June 2026, NPS serves 2.24 crore subscribers with Rs 16,93,288 crore AUM, while APY has 7.66 crore active accounts.
Differentiator
Problem solved
Functional benefit
Brands
- NPS: National Pension System - India's primary defined contribution pension scheme for government and private sector employees
- Atal Pension Yojana (APY)
- Unified Pension Scheme (UPS)
- NPS Vatsalya
- NPS Sanchay
- NPS Swasthya
- PFRDA Pension Sahayak
Products and services
- National Pension System (NPS)
- Atal Pension Yojana (APY)
- Unified Pension Scheme (UPS)
- NPS Vatsalya
- StAR NPS Platform
- PFRDA Pension Sahayak
- Retirement Income Scheme (RIS)
- NPS Sanchay
- NPS Swasthya
- NPS Multiple Scheme Framework (MSF)
Quantifiable outcome
- NPS subscribers pay zero tax on 60% lump-sum withdrawal versus mutual fund investors paying over Rs 41 lakh in long-term capital gains tax at retirement
- +3 more outcomes
Companies that use Pension Fund Regulatory and Development Authority
Customer profileNamed customers5 records
Segments7 records
Ideal customer profiles4 records
Pension Fund Regulatory and Development Authority technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration7 records
AI capability4 records
Feature6 records
Pension Fund Regulatory and Development Authority partnerships and signals
Strategic signalPartnerships
Twelve partnerships are on record, tiered core and minor.
- BSE Technologies Pvt. Ltd. (BTPL)coreBSE Technologies developed StAR NPS, a digital onboarding platform enabling Points of Presence to onboard NPS subscribers through fully digital process. Platform integrates with Central Recordkeeping Agencies and Trustee Bank for direct fund remittance and PRAN generation. Onboarding charge is Rs 200 plus taxes.
- NPCI BHIM ServicescorePartnership enabling National Pension System account opening through BHIM app, leveraging existing bank KYC for seamless onboarding. Forms part of BHIM's strategy to diversify beyond payments into broader financial services and expand NPS distribution.
- Medi Assist Healthcare ServicescoreCore technology partner for NPS Swasthya, enabling subscribers to access up to 25% of their contributions for healthcare expenses through a digital platform.
- CAMS KRAcoreSubscriber onboarding partner for NPS Swasthya proof of concept, facilitating digital account management and KYC processing.
- Aditya Birla Health InsurancecoreProvides integrated top-up health insurance coverage under NPS Swasthya scheme, addressing healthcare cost gaps for pension subscribers.
- Tata Pension FundcoreFund manager running proof-of-concept experiments for NPS Swasthya health-focused pension product.
- Axis Pension FundcoreFund manager running proof-of-concept experiments for NPS Swasthya health-focused pension product.
- ICICI Pension FundcoreLaunched ICICI PF NPS Swasthya Equity Plus scheme under PFRDA Regulatory Sandbox, allowing subscribers to withdraw up to 25% of contributions for medical expenses with high equity exposure of 70-100%.
- FIU-IndiacoreMoU signed April 16, 2025 for strengthening coordination in combating money laundering and financial crimes. Enables joint outreach, training programmes, quarterly information exchange, ML/TF risk assessment, and AML/CFT compliance supervision. Includes exchange with foreign FIUs under Egmont Principles.
- IIT KanpurcoreOrganized Innovate4NPS Hackathon 2026 to develop technological solutions for National Pension System focusing on digital trust and retirement planning challenges. Event included Pitch Day with startups and technologists.
- Digital India BHASHINI DivisioncorePartnership to integrate AI-based language solutions into pension services through Bhashini platform supporting 22 Indian languages. Part of Digital India initiative with over 10,000 contributors developing multilingual AI datasets and models.
- Karnataka Grameena BankminorReceived PFRDA award for Atal Pension Yojana enrolment performance, achieving 142% of target with 2,49,185 APY accounts against target of 1,75,500.
Scale indicators8 records
Recent moves8 records
Expansion highlights7 records
Pension Fund Regulatory and Development Authority competitors and assessment
Company assessmentRegional players
- Central Provident Fund Board (Singapore): Singapore's statutory pension/social-security administrator managing mandatory retirement contributions. International benchmark for PFRDA's defined-contribution framework and outreach design.
- National Pension Service (South Korea): South Korea's statutory national pension fund manager, one of the world's largest pension funds. International peer in operating a large-scale mandatory/auto-enrolment defined-contribution style pension system.
- Employees' State Insurance Corporation (ESIC): Statutory Indian body administering social security (health and disability) for organised-sector workers. Adjacent peer in India's social-security ecosystem with parallel regulator-style governance structure.
Broad incumbents
- Securities and Exchange Board of India (SEBI): Statutory Indian securities-market regulator. Comparable as a peer financial regulator with parallel governance model (chairman plus whole-time members appointed by Central Government) and oversight of mutual fund pension-linked products.
- Insurance Regulatory and Development Authority of India (IRDAI): Statutory Indian insurance sector regulator under the Ministry of Finance. Peer as a sister financial-sector regulator with comparable mandate structure (Act-based authority, market development, consumer protection).
Others
- SBI Pension Funds: Public-sector pension fund manager under NPS and leading NPS Vatsalya enroller (22,646 enrolments as of May 2026). Comparable as a regulated asset manager operating within PFRDA's framework.
- HDFC Pension Fund Management: One of the pension fund managers operating under PFRDA's NPS architecture, managing retirement assets of Indian subscribers. Relevant ecosystem participant regulated by PFRDA.
- KFin Technologies (KFintech) — Central Recordkeeping Agency: Operates as a Central Recordkeeping Agency under PFRDA managing NPS subscriber records and pension fund operations. Direct operational counterparty enabling PFRDA's subscriber-facing technology stack.
Direct peers
- NPS Trust: Trust established by PFRDA under the Indian Trusts Act, 1882 to hold and safeguard NPS assets (~₹17 lakh crore). Direct institutional peer, with proposed structural separation from PFRDA currently under consideration.
- Employees' Provident Fund Organisation (EPFO): India's largest retirement-savings administrator, managing the Employees' Provident Fund for organised-sector workers. Directly comparable as the dominant statutory retirement-savings vehicle competing with NPS for the same underlying employer/employee base.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Pension Fund Regulatory and Development Authority social profiles
Digital presencePension Fund Regulatory and Development Authority financial estimates
Financial estimateRevenue estimate
Valuation estimate
Pension Fund Regulatory and Development Authority leadership team
Management profileNumber of profiles
Profiles19 records
Pension Fund Regulatory and Development Authority funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Pension Fund Regulatory and Development Authority M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Pension Fund Regulatory and Development Authority
What does Pension Fund Regulatory and Development Authority do?
PFRDA is India's statutory pension sector regulator that promotes, develops, and regulates pension schemes including the National Pension System (NPS), Atal Pension Yojana (APY), Unified Pension Scheme (UPS), NPS Vatsalya for minors, and NPS Swasthya for health-linked retirement savings. The authority provides regulatory oversight for pension intermediaries, manages subscriber onboarding through Points of Presence and digital platforms, and enables structured retirement savings products serving over 9.64 crore combined subscribers with Rs 16.55 lakh crore AUM.
Is Pension Fund Regulatory and Development Authority a public or private company?
Pension Fund Regulatory and Development Authority is a private company. It is classified as state government owned and is currently operating.
When was Pension Fund Regulatory and Development Authority founded?
Pension Fund Regulatory and Development Authority was founded in 2003. It employs 51 to 100 people.
Where is Pension Fund Regulatory and Development Authority based?
Pension Fund Regulatory and Development Authority is headquartered in New Delhi, India, in the Asia region.
How does Pension Fund Regulatory and Development Authority make money?
Three revenue lines are on record. Annual Maintenance Charges (AMC) on NPS Accounts are the primary driver. The others are NPS Onboarding Fee and point of Presence Commission Structure.
Who are Pension Fund Regulatory and Development Authority's main competitors?
Regional players on record are Central Provident Fund Board (Singapore), National Pension Service (South Korea) and Employees' State Insurance Corporation (ESIC). Broad incumbents are Securities and Exchange Board of India (SEBI) and Insurance Regulatory and Development Authority of India (IRDAI). Others are SBI Pension Funds, HDFC Pension Fund Management and KFin Technologies (KFintech) — Central Recordkeeping Agency. Direct peers are NPS Trust and Employees' Provident Fund Organisation (EPFO).
Does Pension Fund Regulatory and Development Authority have an API?
No public API is recorded for Pension Fund Regulatory and Development Authority.
What industry is Pension Fund Regulatory and Development Authority in?
Pension Fund Regulatory and Development Authority's product category is Pension Fund Regulation and Retirement Savings Administration. Its primary akta.pro industry code is BPAIAKAA, Pensions & Retirement Benefits Administration, with a secondary code of FSAAAGAA, Corporate & Public Pension Funds (DB/DC Sponsors). Its NAICS code is 52511 and its SIC code is 6111.