PFRDA launches ‘NPS Swasthya’ to link retirement savings with healthcare access

According to a statement, PFRDA said the National Pension System (NPS) Swasthya is a multi-partner initiative structured to provide comprehensive financial and health security.

It added that Aditya Birla Health Insurance provides the integrated top-up insurance cover, and Medi Assist TPA manages claims administration.

“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.

It added that this scheme comes at a time when the pension ecosystem is rapidly scaling with NPS and Atal Pension Yojana (APY) having a cumulative subscriber base of 9.64 crore and combined assets under management pegged at Rs 16.55 lakh crore as of 29 March 2026.

The NPS funds have traditionally remained locked until the subscriber reaches retirement age. NPS Swasthya is designed to provide subscribers access to a “Net Eligible Balance” up to 25 per cent of their contributions.

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) API.