NPS Overhaul: New Rules, Bank Entry, Lower Fees from 2026!

• PFRDA announces major NPS reforms effective January 1, 2026, aimed at strengthening the system and benefiting investors.
• Scheduled Commercial Banks meeting RBI norms can now manage pension funds, increasing competition and investment options.
• New NPS Trust leadership, including former SBI Chairman Dinesh Kumar Khara, promises enhanced governance and investor protection.
• Slab-based Investment Management Fee (IMF) structure from April 1, 2026, for private sector investors will lead to lower fees and higher returns.
• Funds allocated to ANI for NPS awareness will expand reach, making the system more robust and transparent.

Why It Matters: NPS is set for a stronger, more competitive future with increased options, lower fees, and improved governance.