Axis Pension Fund
Axis Pension Fund is a PFRDA-licensed pension fund manager and Axis Bank subsidiary that manages retirement savings under India's National Pension System for individuals, NRIs, corporates, and government employees, distributing through Axis Bank branches, UPI rails, and CRA platforms with products including NPS Vatsalya and NPS Swasthya.
- Company typePrivate
- Founded2022
- HeadquartersMumbai, India
- Headcount11–50
- GTM typeB2B and B2C
- OfferingServices
What Axis Pension Fund does
Axis Pension Fund is a PFRDA-licensed Pension Fund Manager and wholly owned subsidiary of Axis Bank, headquartered in Mumbai and incorporated in 2022. The company is one of nine entities authorised by the Pension Fund Regulatory and Development Authority to manage retirement assets under India's National Pension System (NPS), serving individual subscribers, non-resident Indians (NRIs) and overseas citizens of India (OCIs), corporate sector employees, and government employees. Its product suite spans standard NPS accumulation schemes, NPS Vatsalya (pension accounts for minor children), and the recently launched NPS Swasthya Pension Scheme, a health-integrated pension product developed within the PFRDA regulatory sandbox that bundles pension accumulation with health top-up coverage up to ₹30 lakh in partnership with Aditya Birla Health Insurance and Medi Assist Healthcare Services.
The operating model combines Axis Bank's branch and digital distribution with direct-to-consumer onboarding through UPI rails (BHIM, Google Pay, PhonePe) and Central Recordkeeping Agency platforms operated by CAMS, KFintech, and NSDL/Protean. Subscriber acquisition is reported to be approximately 70% banking-channel driven, with the remainder sourced via digital and aggregator channels. AUM stood at approximately ₹17,000 crore as of late 2025, of which the equity component was ₹5,385 crore, and the company has publicly targeted AUM of ₹30,000 crore and a cumulative subscriber base exceeding 10 lakh by FY27. Reported 1-year return on the equity portfolio was 6.17% as of December 2025.
Revenue is generated from AUM-based fund management fees. Standard NPS products operate under PFRDA-regulated sub-10 basis point pricing, while NPS Swasthya carries a 0.30% AUM annual fee reflecting its value-added health wrapper. The minimum contribution to participate in the Swasthya scheme is ₹25,000 with a standard ₹250 NPS contribution threshold. Given PFRDA fee caps, fee economics scale primarily with AUM growth and product mix rather than per-subscriber pricing power.
Axis Pension Fund firmographics
Firmographics- Name
- Axis Pension Fund
- Legal name
- Axis Pension Fund
- Website
- https://axispensionfund.com
- Company type
- Private
- Founded year
- 2022
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Axis Pension Fund is a PFRDA-licensed pension fund manager and Axis Bank subsidiary that manages retirement savings under India's National Pension System for individuals, NRIs, corporates, and government employees, distributing through Axis Bank branches, UPI rails, and CRA platforms with products including NPS Vatsalya and NPS Swasthya.
- Ownership category
- akta.pro rank
Axis Pension Fund industry classification
Industry- Product category
- Pension Fund Management
- NAICS
- Pension Funds (525110), Portfolio Management and Investment Advice (523940)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Corporate & Public Pension Funds (DB/DC Sponsors) (FSAAAGAA)
- akta.pro secondary industry
- Pensions & Retirement Benefits Administration (BPAIAKAA)
Keywords
Where Axis Pension Fund is headquartered
LocationHeadquarters
- HQ city
- Mumbai
- HQ country
- India
- HQ region
- Asia
Offices1 record
Markets served
Axis Pension Fund business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- AUM-based Fund Management Fees: Axis Pension Fund earns fees as a percentage of Assets Under Management (AUM) managed on behalf of NPS subscribers. The company charges approximately 0.30% of AUM annually for NPS Swasthya scheme, with standard NPS charges regulated by PFRDA.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | NPS Swasthya minimum contribution with low annual charges |
Go-to-market motion3 records
Distribution channels5 records
Marketing channels4 records
Axis Pension Fund product offering
Product offeringCore offering
Axis Pension Fund operates as a PFRDA-approved Pension Fund Manager under India's National Pension System (NPS), managing pension fund investments for individual subscribers, NRIs/OCIs, corporate sector employees, and government employees. The company offers specialized variants including NPS Swasthya (a health-integrated pension product enabling access to up to 25% of contributions for medical expenses with Super Top-up insurance up to ₹30 lakh) and NPS Vatsalya (a pension product for minor children). Fund management fees are charged as a percentage of AUM, with NPS Swasthya priced at 0.30% annually.
Product overview
Axis Pension Fund operates as a Pension Fund Manager under India's National Pension System (NPS), regulated by PFRDA. The company offers a platform-plus-products architecture consisting of core NPS account offerings (Individual, NRI/OCI, Corporate, Government Employee accounts) that provide market-linked retirement savings with tax advantages. The product portfolio includes two specialized add-on products: Axis NPS Swasthya Top-up Plus Fund, which integrates healthcare funding with retirement savings by enabling partial withdrawals for medical expenses plus Super Top-up insurance coverage up to ₹30 lakh; and NPS Vatsalya, a child-focused NPS variant that transitions seamlessly to regular NPS upon adulthood. All products are accessible through multiple CRA platforms (Protean/NSDL, KFintech, CAMS) and the NPS Calculator tool.
Differentiator
Problem solved
Functional benefit
Brands
- Axis NPS Swasthya Top-up Plus Fund: A comprehensive pension and health solution combining NPS savings with medical benefits and Super Top-up insurance cover for healthcare expenses.
- NPS Vatsalya
Products and services
- NPS for Individuals Standard National Pension System account for Indian citizens, allowing individuals to invest in market-linked retirement funds with tax benefits under Section 80CCD. Provides flexible investment choices across equity, corporate bonds, government securities, and alternative investments.
- NPS for NRIs & OCIs National Pension System account designed for Non-Resident Indians and Overseas Citizens of India, enabling them to build retirement corpus from abroad with NPS benefits.
- NPS for Corporate Sector Corporate NPS account enabling employers to provide retirement benefits to employees through the National Pension System framework with contribution management support.
- NPS for Government Employees National Pension System account tailored for government employees with specific contribution and withdrawal rules as per government regulations and PFRDA guidelines.
- Axis NPS Swasthya Top-up Plus Fund Innovative health-integrated NPS product combining retirement savings with healthcare protection. Enables subscribers to access up to 25% of contributions for medical needs with Super Top-up insurance cover up to ₹30 lakh, powered by Medi Assist's MAven technology. Features low annual charges of 0.30% of AUM, cashless claims across 18,000+ hospitals, and minimum contribution of ₹25,000 to the Swasthya Scheme plus ₹250 for the common NPS scheme.
- NPS Vatsalya Variant of NPS designed for minor children up to 18 years of age. Account opened in child's name and managed by parent/guardian until majority, with seamless transition to regular NPS account on attainment of adulthood.
Quantifiable outcome
- 6.17% 1-year return (NPS equity fund)
- +2 more outcomes
Companies that use Axis Pension Fund
Customer profileNamed customers3 records
Segments5 records
Ideal customer profiles5 records
Axis Pension Fund technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration6 records
Feature3 records
Axis Pension Fund partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core.
- Medi Assist Healthcare ServicescoreCore technology partner for NPS Swasthya initiative, providing the 'Maven' (MAven) technology infrastructure enabling digital healthcare access, cashless claims processing across 18,000 hospitals, and app-based withdrawal authorization for medical expenses.
- CAMS KRAcoreSubscriber onboarding and KYC partner for NPS Swasthya, handling new subscriber registration, identity verification, and account setup processes for the healthcare-integrated pension scheme.
- Tata Pension FundcoreCo-fund manager partner for NPS Swasthya proof of concept, working alongside Axis Pension Fund to manage the healthcare-integrated pension scheme under PFRDA's regulatory sandbox.
- Aditya Birla Health InsurancecoreHealth insurance provider for NPS Swasthya, offering optional top-up coverage of up to ₹30 lakh integrated with the pension scheme, providing cashless claims across the network hospitals.
Scale indicators5 records
Recent moves6 records
Expansion highlights6 records
Axis Pension Fund competitors and assessment
Company assessmentDirect peers
- SBI Pension Fund: One of the largest PFRDA-approved NPS pension fund managers in India, directly competing with Axis Pension Fund for the same NPS subscriber pool across individual, corporate, and government segments. Benefits from SBI's massive banking distribution network.
- ICICI Prudential Pension Fund: PFRDA-approved NPS fund manager backed by ICICI Bank's distribution network; directly comparable in business model, regulatory positioning, and banking-channel-driven subscriber acquisition. Named as a partner on the NPS Swasthya PoC alongside Axis.
- HDFC Pension Fund: PFRDA-approved NPS fund manager leveraging HDFC Group's banking and financial services distribution; competes head-to-head with Axis Pension Fund for subscribers and AUM share in the same fee-regulated framework.
- Tata Pension Fund: PFRDA-approved NPS fund manager in the Tata Group ecosystem; direct competitor in NPS with similar institutional backing and is also Axis's co-fund manager partner on NPS Swasthya PoC under PFRDA's regulatory sandbox.
- Kotak Mahindra Pension Fund: PFRDA-approved NPS fund manager leveraging Kotak Mahindra Bank's distribution; competes directly with Axis Pension Fund in fee-regulated NPS products across individual, corporate, and government segments.
- LIC Pension Fund: PFRDA-approved NPS fund manager backed by Life Insurance Corporation of India — the largest insurance/long-term savings franchise in India; a dominant incumbent that competes for NPS subscribers and benefits from LIC's massive government and individual policyholder base.
- UTI Retirement Solutions: PFRDA-approved NPS fund manager with established institutional credibility; competes directly in NPS across multiple subscriber segments and offers a comparable menu of PFRDA-regulated pension products.
- Max Life Pension Fund: PFRDA-approved NPS fund manager with insurance and banking-affiliated distribution; direct competitor in the same regulated NPS framework targeting the same subscriber segments as Axis Pension Fund.
Broad incumbents
- Axis Mutual Fund: Sister company under Axis Group; broader asset management business offering mutual funds across equity, debt, and hybrid categories. Comparable as an Axis-ecosystem asset manager but operates in a different, larger TAM with fee structures less constrained than PFRDA-regulated NPS.
- Aditya Birla Sun Life AMC: Large India-based asset management company within the Aditya Birla Group, offering mutual funds and related investment products. Comparable as an Indian institutional asset manager with retail distribution scale, though broader in scope than Axis Pension Fund's NPS-only focus.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
Axis Pension Fund social profiles
Digital presenceAxis Pension Fund financial estimates
Financial estimateRevenue estimate
Valuation estimate
Axis Pension Fund leadership team
Management profileNumber of profiles
Profiles1 record
Axis Pension Fund funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Axis Pension Fund M&A and investment
M&A and investmentM&A
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Axis Pension Fund
What does Axis Pension Fund do?
Axis Pension Fund operates as a PFRDA-approved Pension Fund Manager under India's National Pension System (NPS), managing pension fund investments for individual subscribers, NRIs/OCIs, corporate sector employees, and government employees. The company offers specialized variants including NPS Swasthya (a health-integrated pension product enabling access to up to 25% of contributions for medical expenses with Super Top-up insurance up to ₹30 lakh) and NPS Vatsalya (a pension product for minor children). Fund management fees are charged as a percentage of AUM, with NPS Swasthya priced at 0.30% annually.
Is Axis Pension Fund a public or private company?
Axis Pension Fund is a private company. It is classified as corporate owned and is currently operating.
When was Axis Pension Fund founded?
Axis Pension Fund was founded in 2022. It employs 11 to 50 people.
Where is Axis Pension Fund based?
Axis Pension Fund is headquartered in Mumbai, India, in the Asia region.
How does Axis Pension Fund make money?
One revenue line is on record: AUM-based Fund Management Fees.
Who are Axis Pension Fund's main competitors?
Direct peers on record are SBI Pension Fund, ICICI Prudential Pension Fund, HDFC Pension Fund, Tata Pension Fund, Kotak Mahindra Pension Fund, LIC Pension Fund, UTI Retirement Solutions and Max Life Pension Fund. Broad incumbents are Axis Mutual Fund and Aditya Birla Sun Life AMC.
Does Axis Pension Fund have an API?
No public API is recorded for Axis Pension Fund.
What industry is Axis Pension Fund in?
Axis Pension Fund's product category is Pension Fund Management. Its primary akta.pro industry code is FSAAAGAA, Corporate & Public Pension Funds (DB/DC Sponsors), with a secondary code of BPAIAKAA, Pensions & Retirement Benefits Administration. Its NAICS code is 525110 and its SIC code is 6282.