{"id":594143,"date":"2026-04-10T05:48:08","date_gmt":"2026-04-10T05:48:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/594143\/"},"modified":"2026-04-10T05:48:08","modified_gmt":"2026-04-10T05:48:08","slug":"pfrda-launches-nps-swasthya-enabling-subscribers-to-use-retirement-funds-for-healthcare","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/594143\/","title":{"rendered":"PFRDA launches NPS Swasthya, enabling subscribers to use retirement funds for healthcare"},"content":{"rendered":"

The Pension Fund Regulatory and Development Authority (PFRDA) now allows subscribers under \u2018NPS Swasthya\u2019, a multi-partner initiative that integrates retirement savings with healthcare accessibility, to get coverage for in-patient services and hospitalisation bills.<\/p>\n

Powered by Medi Assist\u2019s \u2018Maven\u2019 infrastructure, the initiative enables eligible NPS subscribers to access a portion of their retirement corpus for hospitalisation expenses, while continuing to benefit from long-term market-linked growth.<\/p>\n

How much is the limit<\/p>\n

The program brings together PFRDA<\/a>, Tata Pension Fund, Axis Pension Fund, Aditya Birla Health Insurance, and Medi Assist to create a \u2018more resilient social security framework for India\u2019. \u2018NPS Swasthya\u2019 is designed to provide subscribers access to a \u2018Net Eligible Balance\u2019 of up to 25% of their contributions for medical expenses. National Pension System (NPS<\/a>) funds traditionally remain locked-in until the subscriber reaches retirement age.<\/p>\n

Subscribers can access these retirement units for immediate medical expenses through the MAven App, developed by Medi Assist Healthcare Services, which features direct integration with the CAMS Central Recordkeeping Agency (CRA).<\/p>\n

Medi Assist offers access to a network of more than 15500 hospitals across 1264 cities to process cashless payments for inpatient (IPD) and facilitates outpatient (OPD) services as a technology aggregator. NPS Swasthya funds are managed by Tata Pension Fund and Axis Pension Fund.<\/p>\n

\u201cThe idea of retiring with dignity cannot be alienated from a strong sense of medical security for the elderly. \u2018NPS Swasthya Pension Scheme\u2019 not only grows the subscriber\u2019s corpus at a rate that is comparable to other popular instruments available in the market, but also provides financial support for out-patient and in-patient medical expenses in case of medical emergencies,\u201d said Sivasubramanian Ramann, Chairperson, PFRDA<\/a>.<\/p>\n

Also Read | Centre allows one-time switch from unified pension to NPS for its employees<\/a><\/p>\n

\u201cThe fact of the matter is that several elderly remain outside the medical insurance net, making them extremely vulnerable to expenses beyond their reach,\u201d he said. While the first phase of the scheme was launched in January 2026 for outpatient services, the second phase that has been launched now covers in-patient and hospitalisation bills.<\/p>\n

“NPS Swasthya reflects our commitment to evolving retirement solutions that address the realities of longer life and rising healthcare costs. It enables investors to build a robust retirement corpus while staying financially prepared for medical needs, bringing greater balance and resilience to long-term financial planning,\u201d said Kurian Jose, CEO, Tata Pension Fund Management.<\/p>\n

\u201cNPS Swasthya is unique since it offers a very different health and hospital proposition\u2014a hospitalisation cover of up to \u20b930 lakh at a cost of under \u20b910 per day, making healthcare preparedness more accessible within the NPS framework,\u201d said Sumit Shukla, MD & CEO, Axis Pension Fund.<\/p>\n

Also Read | EPFO 3.0: 10 must-know rules for PF withdrawals and pension<\/a><\/p>\n

The NPS Swasthya Scheme, which combines NPS savings, standard health benefits, and a \u2018Group Health Super Top-Up\u2019 insurance plan from Aditya Birla Health Insurance, is available to Indian citizens aged 18\u201385. Enrollment is subject to a \u2018Good Health Declaration\u2019 ensuring a streamlined onboarding process for members without major pre-existing conditions like heart disease or diabetes.<\/p>\n

While PFRDA serves as the regulatory authority, Medi Assist Healthcare Services acts as the core technology partner, providing digital infrastructure. CAMS KRA supports subscriber onboarding and KYC (Know Your Customer) process. Tata Pension Fund and Axis Pension Fund serve as the designated pension fund managers. Aditya Birla Health Insurance provides the integrated top-up insurance cover, and Medi Assist TPA manages claims administration.<\/p>\n","protected":false},"excerpt":{"rendered":"The Pension Fund Regulatory and Development Authority (PFRDA) now allows subscribers under \u2018NPS Swasthya\u2019, a multi-partner initiative that…\n","protected":false},"author":2,"featured_media":594144,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[225787,45,49,48,133,225788,35403,225786,131,132,98528],"class_list":{"0":"post-594143","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-aditya-birla-health-insurance","9":"tag-business","10":"tag-ca","11":"tag-canada","12":"tag-finance","13":"tag-medi-assist-healthcare-services","14":"tag-national-pension-system","15":"tag-nps-swasthya-scheme","16":"tag-personal-finance","17":"tag-personalfinance","18":"tag-pfrda"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/594143","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=594143"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/594143\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/594144"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=594143"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=594143"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=594143"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}