The Pension Fund Regulatory and Development Authority (PFRDA) has consistently sought toexpand the reach and accessibility of the National Pension System (NPS), with particularemphasis on India's large and underserved informal workforce. India’s informal sector employsclose to 90% of the total work force, serving as the economy‘s primary backbone, yet this segmentremains largely outside the ambit of formal pension coverage. To address the needs of this large workforce, the Authority has approved the introduction of“NPS Sanchay”, a simplified variant of NPS, under All Citizen Model and MSF Framework.The default design of this scheme is intended to reduce complexities associated with selection ofinvestment options and determination of asset allocation, while also addressing constraints arisingfrom limited advisory support at the last-mile level. ELIGIBILITY Any citizen of India aged between 18 and 85 years as on the date of submission of theapplication, either through a Point of Presence (PoP)/ PoP-Service Provider (PoP-SP) or throughthe online platform are eligible to open pension account and opt for “NPS Sanchay”. KYC COMPLIANCE The subscriber shall comply with the Know Your Customer (KYC) requirements as prescribedunder the Subscriber Registration Form (SRF) and shall mandatorily submit all requisitedocuments for KYC compliance. INVESTMENT PATTERN i. The investment pattern for this scheme shall be aligned with the extant Investment Guidelinesapplicable to Government Sector schemes, including UPS/NPS/APY Schemes—Central/StateGovernment (default), Corporate CG, NPS Lite, Atal Pension Yojana (APY) and APYFund Scheme, as prescribed under Circular No. PFRDA/Master Circular/2025/05/PF-03 dated10.12.2025. ii. The “NPS Sanchay” scheme shall be implemented and made available across all PensionFunds registered with the Authority. EXIT AND PARTIAL WITHDRAWALS The provisions of the Pension Fund Regulatory and Development Authority (Exits andWithdrawals under the National Pension System) Regulations, 2015, as amended, modified,substituted, or superseded from time to time by the competent authority in exercise of powersconferred under the Pension Fund Regulatory and Development Authority Act, 2013, togetherwith all notifications, circulars, guidelines, and directions issued thereunder, shall apply mutatismutandis to “NPS Sanchay”. CHARGE STRUCTURE OF POINTS OF PRESENCE I. The Regulation 16 of Pension Fund Regulatory and Development Authority (Point of Presence)Regulations, 2018 (hereinafter referred to as “POP Regulations”) states that “the charges that maybe collected by the point of presence from the subscriber shall be subject to the limit, mode andmanner of collection, as permitted by the Authority”. II. The charge structure applicable to “NPS Sanchay” shall, mutatis mutandis, be the same asthat prescribed for Point of Presence (PoP) services under the Common Schemes of the NationalPension System (NPS), including NPS (All Citizen), NPS Vatsalya, and NPS Lite, as may bespecified by the Authority from time to time, unless otherwise specified. Any amendments, revisions, or modifications to such charge structure, as notified by theAuthority from time to time, shall apply to “NPS Sanchay” ipso facto and without any furtherreference, and shall be binding on all stakeholders, including intermediaries, Points of Presence(PoPs), and subscribers. III. The minimum contribution and subsequent contributions of “NPS Sanchay” mutatismutandis, be the same as that prescribed for Point of Presence (PoP) services under the CommonSchemes of the National Pension System (NPS), including NPS (All Citizen), NPS Vatsalya, andNPS Lite, as may be specified by the Authority from time to time, unless otherwise specified. CHANGE OF PENSION FUND & ASSET ALLOCATION/ INVESTMENT CHOICE The subscriber is provided with an option to change the Pension Fund and Asset Allocation asper the regulations/circular/ guidelines issued for All Citizen Model by the Authority from timeto time. MSF SCHEMES Notwithstanding anything contained to the contrary, Pension Funds shall be permitted to launchschemes under the Multi Scheme Framework (MSF), as may be prescribed by the Authority fromtime to time, subject to the condition that all terms and conditions governing such schemes shallremain identical in all respects to those applicable under the existing framework, save and exceptthe investment pattern, which shall be governed exclusively by and construed in accordance withthe provisions specified under Point No. 4 of this Circular. Source: PFRDA Website