Overview

• Effective October 1, non‑government subscribers can hold multiple schemes under a single PRAN, replacing the earlier one‑choice‑per‑tier limit.
• Pension funds may offer persona‑specific options for groups such as corporate employees, professionals and gig workers, with risk variants allowing up to 100% equity allocation.
• Scheme charges are capped at 0.30% of AUM annually, with a temporary 0.10% incentive for funds meeting new‑subscriber targets.
• New safeguards require standardized naming and disclosures with risk‑o‑meters and benchmarking, while switches between new schemes are barred until 15 years of vesting or exit, though moves to common schemes are permitted.
• PFRDA released a consultation on three flexible and assured pension models with feedback due by October 31, as the finance minister pressed to expand coverage to gig workers and women and highlighted cross‑regulator coordination.