SBI Pension Funds steps up NPS outreach across Gujarat

Ahmedabad: SBI Pension Funds Pvt. Ltd., the country’s largest pension fund manager under the National Pension System (NPS), highlighted the growing importance of retirement planning and recent developments in the NPS ecosystem, while strengthening its outreach across Gujarat.

As per a press release, Gujarat, with its growing workforce and expanding base of self-employed and informal sector workers, holds significant potential for improving pension inclusion. The state has approximately 3.08 lakh cumulative gross All Citizen NPS registrations through FY2024-25, with 49,895 new registrations recorded during the year, including 11,064 registrations by women. Approximately 90% of Gujarat’s workforce remains outside formal pension coverage, highlighting the significant scope to expand access to structured retirement solutions across the state.

SBI Pension Funds continues to focus on expanding NPS adoption across retail and corporate segments, strengthening digital capabilities through its upcoming web application, Sugam NPS, and promoting financial literacy and future readiness.

The company follows a disciplined, long-term investment strategy, balancing growth and capital protection through diversified equity exposure, stable fixed income strategies, and selective inclusion of new asset classes. Under the Multiple Scheme Framework, it has launched the SBI PF NPS Jeevan Swarna Retirement Yojana for individuals with a higher risk appetite, and the SBI PF NPS Akshay Dhara Retirement Yojana, which offers a balanced mix of equity and fixed income, a press release said.

Mr. Pranay Dwivedi, MD & CEO, SBI Pension Funds, said: “Retirement planning needs to begin much earlier in an individual’s financial journey. With nearly 4.8 crore people in Gujarat in the 15–59 age group and more than half of the state’s workforce being self-employed, there is a significant opportunity to bring retirement planning to people who may not have access to traditional employer-backed benefits. NPS can play an important role in enabling individuals to build financial security through disciplined, long-term investing.”

With rising life expectancy, increasing healthcare costs, and evolving family structures, retirement planning has become essential. According to the Periodic Labour Force Survey 2025, 56.9% of Gujarat’s workers are self-employed and around 17% are engaged as casual labour, highlighting the need to expand awareness of structured retirement solutions beyond traditional employer-backed employment.

The National Pension System continues to strengthen as a low-cost, transparent, tax-friendly, and flexible retirement savings platform, supported by recent reforms from the Pension Fund Regulatory and Development Authority (PFRDA). Key developments include:

• Introduction of the Multiple Scheme Framework (MSF) for greater investment choice
• Enhanced flexibility in asset allocation, including higher equity exposure for long-term investors
• Expansion into new asset classes such as AIFs, REITs, InvITs, and Gold ETFs
• Increased focus on private sector employees, self-employed individuals, and gig workers
• Retirement Income Scheme which enables NPS subscribers to get a regular payout post-retirement without having to exit the NPS framework.

These changes reflect a shift toward a more investor-centric and adaptable retirement security framework.

The Gujarat engagement underscores SBI Pension Funds’ commitment to strengthening retirement readiness and expanding pension coverage across the state and India. DeshGujarat