Axis Pension Fund

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.

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

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

• Pension fund management
• NPS fund management
• Retirement planning services
• Pension fund manager
• NPS subscription services

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. 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

Go-to-market motion3 records

Distribution channels5 records

Marketing channels4 records

Core 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

Named customers3 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature3 records

Partnerships

Four partnerships are on record, tiered core.

• Medi Assist Healthcare ServicescoreTechnology or Integration · 7 April 2026Core 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 KRAcoreTechnology or Integration · 7 April 2026Subscriber 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 FundcoreStrategic or Co-development Partner · 7 April 2026Co-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 InsurancecoreStrategic or Co-development Partner · 1 January 2026Health 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

Direct 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

• Xx.com/AxisPensionFund
• YouTubeyoutube.com/channel/UC4xfCMK_sE7nUGKK2jKEQhQ
• Facebookfacebook.com/?wtsid=rdr_0di7QJUoXyZJzGNjT
• LinkedInlinkedin.com/company/axis-pension-funds/mycompany/?viewAsMember=true
• Instagraminstagram.com/axis.pensionfund

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Axis Pension Fund