**Executive Summary**
The Pension Fund Regulatory and Development Authority (PFRDA), in collaboration with ICICI Pension Fund, launched the 'ICICI PF NPS Swasthya Equity Plus' on February 21st, 2026, in Mumbai. This innovative scheme under the National Pension System (NPS) integrates retirement savings with healthcare expenses. The scheme allows subscribers to withdraw a portion of their contributions for medical needs, providing flexible access to funds.
**Key Points / Main Content**
* **Scheme Overview:**
* 'ICICI PF NPS Swasthya Equity Plus' is a unique pension scheme under the National Pension System (NPS).
* It is introduced as a Proof of Concept under PFRDA's Regulatory Sandbox Framework.
* **Withdrawal Provisions:**
* Subscribers can withdraw up to 25% of their own contributions for medical expenses (OPD, diagnostics, hospitalization, and pharmacy purchases).
* Withdrawals are facilitated through the Apollo 24|7 platform and selected Apollo Hospitals network entities.
* There is no limit on the number of partial withdrawals, subject to a minimum accumulation of ₹50,000 for the first withdrawal.
* An emergency exit provision allows withdrawal of up to 100% of the accumulated corpus if medical expenses exceed 70% of the total corpus.
* **Investment Strategy:**
* 70% to 100% of the corpus will be invested in equity.
* Up to 30% in debt and up to 10% in money market instruments.
* **Additional Benefits:**
* Subscribers will receive preferential access and benefits across the Apollo healthcare network.
**Impact Analysis**
**Stakeholder: NPS Subscribers**
* **Impact:** Increased flexibility in managing retirement savings by accessing funds for medical expenses.
* **Action Required:** Understand the scheme's provisions, including withdrawal limits, investment strategies, and access to healthcare benefits.
**Stakeholder: ICICI Pension Fund**
* **Impact:** Enhanced product offering to attract new subscribers and address the rising healthcare costs.
* **Action Required:** Ensure seamless integration with the Apollo 24|7 platform and Apollo Hospitals network to facilitate withdrawals.
**Stakeholder: Apollo HealthCo and KFin Technologies**
* **Impact:** Play a role in ensuring seamless, secure, and compliant processing of withdrawals within a regulated framework.
* **Action Required:** Support the integrated healthcare access and robust digital recordkeeping architecture to process withdrawals.
Key Entities Referenced
National Pension System (NPS): A pension scheme that allows integration of retirement planning with healthcare-focused financial solutions.
Pension Fund Regulatory and Development Authority (PFRDA): The regulatory authority that launched 'ICICI PF NPS Swasthya Equity Plus' under its Regulatory Sandbox Framework.
ICICI PF NPS Swasthya Equity Plus: An innovative NPS scheme integrating retirement savings with flexible access for healthcare expenses.
Ministry of Finance
PFRDA, in collaboration with ICICI Pension Fund,
launches ‘ICICI PF NPS Swasthya Equity Plus’
Innovative NPS scheme integrates retirement
savings with flexible access for healthcare
expenses
Posted On: 21 FEB 2026 6:06PM by PIB Mumbai
: Mumbai, 21st February 2026
The Pension Fund Regulatory and Development Authority (PFRDA), in collaboration
with ICICI Pension Fund Management Limited, has launched ‘ICICI PF NPS Swasthya
Equity Plus’, a unique pension scheme under the National Pension System (NPS).
Introduced as a Proof of Concept under PFRDA’s Regulatory Sandbox Framework,
the scheme marks a significant step towards integrating retirement planning with
healthcare-focused financial solutions.
The scheme enables subscribers to withdraw up to 25% of their own contributions
for medical expenses, including OPD, diagnostics, hospitalisation and pharmacy
purchases, through the Apollo 24|7 platform and selected hospitals and pharmacies
within the Apollo Hospitals network, while the remaining corpus continues to grow
for retirement. There is no limit on the number of partial withdrawals, subject to a
minimum accumulation of ₹50,000 for the first withdrawal. An emergency exit
provision permits withdrawal of up to 100% of the accumulated corpus if medical
expenses exceed 70% of the total corpus.The launch was held in the presence of Shri Sivasubramanian Ramann, Chairperson,
PFRDA, along with senior officials of ICICI Pension Fund Management, Apollo
HealthCo and KFin Technologies, which serves as the Central Recordkeeping Agency
for the scheme.
Speaking on the occasion, Shri Ramann said that PFRDA’s vision of old-age security
is rooted in comprehensive and disciplined financial planning that evolves with life’s
changing vulnerabilities. He noted that the initiative complements insurance
solutions by creating a dedicated savings pool for healthcare needs and leverages
India’s Digital Public Infrastructure, including Aadhaar authentication and UPI, to
enable secure and transparent transactions aligned with the vision of Viksit Bharat.
Mr. Sumit Mohindra, Chief Executive Officer, ICICI Pension Fund Management
Limited, stated that the scheme addresses increasing longevity and rising
healthcare costs by offering subscribers the flexibility to meet medical contingencies
while building a structured retirement corpus. Representatives of Apollo HealthCo
and KFin Technologies highlighted that the integrated healthcare access and robust
digital recordkeeping architecture ensure seamless, secure and compliant
processing of withdrawals within a regulated framework.Under the scheme, 70% to 100% of the corpus will be invested in equity, with up to
30% in debt and up to 10% in money market instruments. Subscribers will also
receive preferential access and benefits across the Apollo healthcare network,
thereby combining long-term wealth creation with accessible healthcare support
within the NPS framework.
***
Edgar Coelho/Parshuram Kor
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