NPS Multiple Scheme Framework (MSF) crosses ₹145 crore AUM within four months

The Multiple Scheme Framework (MSF) under the National Pension System (NPS), which was launched on 1st October 2025 by the Finance Minister, has achieved an assets under management ( AUM) of ₹145 crore as on 1st Feb 2026, with more than 1.50 lakh NPS accounts opened under MSF, the Pension Fund Regulatory and Development Authority (PFRDA) said in a release.

The MSF initiative under NPS was launched to leverage the investment expertise of Pension Funds to provide subscribers with a wider choice of retirement-oriented investment solutions aligned to varying risk appetites, life stages and financial goals.

Out of the 25 MSF schemes under NPS, 13 schemes from 10 Pension Funds were launched on 1st October 2025 (NPS Diwas) and were effectively operationalised from the third week of October 2025, marking a landmark step in the evolution of the NPS ecosystem. The remaining 12 schemes were operationalised subsequently by 8 Pension Funds.

“These schemes under NPS span a diverse range of investment strategies, including equity-focused growth schemes, balanced and dynamic asset allocation funds, income-oriented strategies, and lifestage and goal-based retirement solutions, catering to salaried individuals, self-employed professionals, entrepreneurs, women, corporate employees, and long-term investors,” PFRDA said.

“This milestone reflects the growing maturity of India’s pension ecosystem and the successful transition of NPS towards a more choice-driven, innovation-led and subscriber-centric architecture,” PFRDA added.

Further, there is a lock-in of 15 years or 60 years of age, whichever is earlier.

Under MSF, pension fund managers have recently launched several new schemes. Some of them allow up to 100% equity allocation.