Kamal Ghorui
Pension fund regulator PFRDA has launched the second proof of concept (POC) of ‘NPS Swasthya’, an initiative aimed at integrating retirement planning with healthcare funding, PTI reported.The Pension Fund Regulatory and Development Authority (PFRDA) said the National Pension System (NPS) Swasthya is a multi-partner framework designed to provide financial and health security.Under the initiative, Medi Assist Healthcare Services will act as the core technology partner, CAMS KRA will handle onboarding and KYC, while Tata Pension Fund and Axis Pension Fund will serve as fund managers. Aditya Birla Health Insurance will provide top-up cover, and Medi Assist TPA will manage claims.“The initiative addresses a growing gap in India’s retirement landscape, where healthcare costs are projected to rise by 11.5 per cent to 14 per cent in 2026, significantly outpacing inflation and putting long-term financial security under pressure for millions,” PFRDA said.The move comes as the pension ecosystem expands rapidly, with NPS and Atal Pension Yojana (APY) together having a subscriber base of 9.64 crore and assets under management of Rs 16.55 lakh crore as of March 29, 2026.Unlike traditional NPS funds that remain locked until retirement, NPS Swasthya allows subscribers to access a “Net Eligible Balance” of up to 25% of their contributions for medical expenses.Subscribers can withdraw funds through the MAven App, developed by Medi Assist, which is integrated with the CAMS Central Recordkeeping Agency (CRA) system to enable seamless access to funds for healthcare needs.
