Double Dhamaka! Secure Health + Retirement With This Pension Scheme; What Is ICICI PF NPS Swasthya Equity Plus

ICICI Pension Fund Management launches a new pension scheme, offering both retirement savings and security to health. This is called ICICI PF NPS Swasthya Equity Plus, a unique pension scheme under the National Pension System (NPS), under which 25% of the corpus could be withdrawn for medical expenses and the remaining will be contributed towards retirement. The scheme is an innovative initiative, aiming to strengthen citizens.

Here's everything that you need to know about ICICI PF NPS Swasthya Equity Plus:

Two-In-One Benefits:

Under the ICICI PF NPS Swasthya Equity Plus, subscribers have the opportunity to withdraw up to 25% of their own contributions for medical expenditure. This is applicable for medical expenses carried across the Apollo network through Apollo 24X7 mobile app, however, at selected hospitals and pharmacies.

The rest of 75% can be kept to grow for retirement. The scheme is offered as a Proof of Concept (PoC) under the PFRDA Regulatory Sandbox Framework.

Apart from this, the scheme offers the opportunity to enjoy returns of capital markets and pensions. It's no mystery that stock market has given far better returns on an annual basis compared to any other traditional schemes such as fixed deposits. However, market-linked schemes are prone to high risks.

"With initiatives such as NPS Vatsalya and now this health-focused pension framework under the regulatory sandbox, we are exploring innovative ways to strengthen citizens' financial preparedness. This initiative does not replace insurance; rather, it complements it by creating a disciplined, purpose-driven savings pool dedicated to healthcare needs," said Sivasubramanian Ramann, Chairperson, Pension Fund Regulatory Development Authority.

"By leveraging India's Digital Public Infrastructure, including Aadhaar authentication and UPI, we are demonstrating how technology can enable secure, transparent, and goal-based financial solutions," he added.

As India moves towards Viksit Bharat, Ramann added, "it is imperative that we build integrated products that safeguard both health and wealth, ensuring dignity and resilience in later years."

On its partnership with Apollo Hospitals, Sumit Mohindra, Chief Executive Officer, ICICI Pension Fund Management said, "Our partnership with Apollo Hospitals Group ensures subscribers receive meaningful value across a wide healthcare ecosystem, while operational enablement through KFintech as the Central Recordkeeping Agency delivers a seamless experience across healthcare access and pension servicing."

"This initiative advances that vision by integrating healthcare with financial planning, making everyday care easier to access, while staying anchored to long-term wellbeing," Madhivanan Balakrishnan, CEO, Apollo HealthCo further added.

Explaining further about the scheme, Sreekanth Nadella, Managing Director & CEO, KFin Technologies said, ICICI PF NPS Swasthya Equity Plus, under the aegis of PFRDA's NPS Swasthya Proof of Concept, reflects a progressive step towards advancing financial inclusion by making retirement solutions more responsive to essential life stage needs such as healthcare, within a regulated framework.

ICICI PF NPS Swasthya Equity Plus Features:

1. High investment in equity:

Between 70% to 100% of the corpus will be invested in equity, while up to 30% into debt and up to 10% in money market instruments.

2. Withdrawal Limits:

Subscribers can withdraw up to 25% of own contributions for healthcare expenses-including OPD, diagnostics, hospitalization, and pharmacy purchases - anytime during the tenure of the scheme through the Apollo 24X7 platform and at selected Apollo Hospitals and Apollo Pharmacy.

Noteworthily, there is no limit on the number of partial withdrawals; however, the first withdrawal is permitted after the accumulation of at least Rs 50,000.

3. Emergency Exit Provision:

Another key benefit is that the scheme allows 100% of total corpus withdrawal in case the emergency medical expenses exceed 70% of the total corpus accumulated.

4. Safety & Security:

The process of withdrawing is easy and flexible. The withdrawals are authenticated through one-time passwords (OTP) on registered mobile numbers, and the amounts are disbursed directly to the Apollo network via KFintech who is the Central Recordkeeping Agency for this scheme.

5. Healthcare ecosystem benefits:

Subscribers get preferential access and discounts across the Apollo network.

Exclusive benefits for 'ICICI PF NPS Swasthya Equity Plus' subscribers at the Apollo network:

Service	Benefits
Pharmacy Orders through Apollo 24I7 & Apollo Pharmacies	Additional 2% discount (maximum total discount up to 18%) over and above existing benefits
Diagnostic Orders through Apollo 24I7	15% additional discount on the diagnostic bill value
Virtual Consultations on Apollo 24I7	3 free consultations every month
In-Patient Services - Apollo Hospitals	Room rent & investigations: 10% discount; OT: 5% discount; Professional fee: 5% discount
Out-Patient Services - Apollo Hospitals	Investigation: 15% discount; Consultation: 10% discount
Health Checks - Apollo Hospitals	20% discount on health check packages
Hospital First Touch Benefits - Apollo Hospitals	Registration fee waived; Free ambulance pickup & drop (subject to availability); Dedicated helpline

Additionally, discounts are offered by the Apollo network and may vary from time to time, as per their terms. The list of healthcare facilities is limited to locations under POC and is available on ICICI Pension Funds' website.

How To Open ICICI PF NPS Swasthya Equity Plus Account?

Individuals can open their ICICI PF NPS Swasthya Equity Plus account by clicking the NPS Swasthya banner available on the ICICI Pension Fund's website. Click here to direct access the link.

https://www.iciciprupension.com

Customers can also open the account through the Apollo 24/7 mobile app. It needs to be noted that opening and maintaining a Common Scheme NPS account is mandatory alongside the NPS Swasthya account, as per PFRDA regulations.