The Pension Fund Regulatory and Development Authority has opened continuous, on-tap registration for prospective pension fund managers that want to handle assets under the National Pension System. The move allows interested applicants to seek approval on an ongoing basis instead of waiting for a limited application window.
The development is significant because the retirement savings pool linked to NPS and Atal Pension Yojana has grown to about ₹17.7 lakh crore. With a larger corpus under management, the regulator’s decision could widen participation in India’s pension fund management space and support the system’s expanding scale.
PFRDA’s invitation is aimed at entities looking to manage pension money under NPS and UPS. The on-tap route signals a more continuous framework for onboarding fund managers, which may help the market adapt more quickly as pension assets and subscriber interest continue to rise.
The latest step also underlines the growing importance of regulated long-term retirement products in India’s financial sector. As the pension ecosystem becomes bigger, changes in access for fund managers are likely to be closely watched by the industry, investors, and institutions tracking the country’s retirement market.
