PIB Mumbai, November 28, 2025:

The Indian Chamber of Commerce (ICC) successfully hosted the 4th ICC Conclave on the National Pension System (NPS) at the Mumbai Cricket Association, Bandra Kurla Complex (BKC), bringing together senior policymakers, pension fund leaders, and financial sector experts to discuss the future of India’s retirement ecosystem.

India’s pension landscape continues to grow steadily, with the NPS subscriber base nearing 2 crore, including 1 crore government-sector subscribers and 74 lakh members from the general public, of whom 24 lakh are private-sector employees. Together, the NPS and the Atal Pension Yojana (APY) now cater to over 9.12 crore subscribers, managing ₹16.40 lakh crore in Assets Under Management (AUM).

The conclave opened with a welcome address by Mr. Atanu Sen, Chairperson of ICC’s National Expert Committee (NPS) and former Chairperson of the NPS Trust.

Delivering the keynote address, Shri Sivasubramanian Ramann, Chairperson of the Pension Fund Regulatory and Development Authority (PFRDA), highlighted major initiatives undertaken by the Authority. These include the inclusion of gig and platform workers through the NPS e-Sharmik model, collaboration with Farmer Producer Organizations (FPOs) to extend pension coverage to farmers and rural women, and the rollout of the Multiple Scheme Framework (MSF) to enhance subscriber flexibility and choice. Shri Ramann also outlined upcoming reforms aimed at easing NPS withdrawals, such as allowing exit after a 15-year vesting period, enhancing lump-sum withdrawal limits up to 80%, removing lock-in restrictions, and exploring portfolio diversification through gold and silver exposure of up to 1%.

An inspiring address by Mr. Sashi Krishnan, Director of the National Institute of Securities Markets (NISM), emphasized the need to integrate pension and financial literacy into school and college curricula to foster early financial preparedness.

A high-level panel discussion on “The Road Ahead – Integrating MSF within India’s Investment Ecosystem,” moderated by Mr. Ranbheer Dhariwal of Protean eGov Technologies Ltd, featured leading pension fund managers. The panel discussed bundling NPS with complementary financial products, customizing MSF solutions for diverse subscriber categories, and strengthening India’s long-term investment landscape.

The conclave also provided a platform for dialogue on aligning India’s pension pillars—EPFO, NPS, and private pension systems—to create an integrated and seamless retirement ecosystem. Experts further discussed the role of AI and data analytics in enhancing efficiency and subscriber experience.

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Saurabh khekde/Nitin Fulluke/Parshuram Kor

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