NEW DELHI: The Pension Fund Regulatory and Development Authority (PFRDA) and the Institute of Actuaries of India (IAI) have signed a landmark Memorandum of Understanding (MoU) to strengthen cooperation in pension research, actuarial studies, policy development, and professional capacity building. The agreement was formalized during the opening session of the two-day Joint Conference on Pensions (JCP) 2026 held at the India International Centre in New Delhi.
The conference is centered on the theme “Sustainable Pension Systems – A Socio-Economic Imperative to Viksit Bharat,” bringing together policymakers, regulators, economists, actuaries, financial experts, and international organizations to discuss the future of India’s pension ecosystem.
MoU Aims to Strengthen Pension Policy and Research
The newly signed agreement is expected to enhance collaboration between PFRDA and IAI in several critical areas, including actuarial research, pension product development, technical knowledge sharing, and policy formulation. The partnership seeks to support evidence-based policymaking and encourage innovation in retirement planning as India prepares to address the challenges of an ageing population.
Officials said the collaboration will combine the strengths of both institutions to create long-term pension solutions that respond to India’s changing demographic and economic conditions. The initiative is also expected to improve technical expertise within the pension sector while supporting sustainable retirement income models.
Focus on Building a Strong Retirement Ecosystem
Addressing the conference as the Chief Guest, Chief Economic Advisor to the Government of India, Dr. V. Anantha Nageswaran, highlighted the growing importance of building resilient pension systems capable of supporting an ageing population in the coming decades.
He stated that retirement planning should not only focus on accumulating savings but also ensure a steady and reliable stream of income after retirement. According to him, expanding pension coverage across the country, particularly among workers in the informal sector, will require simple financial products, effective digital delivery systems, and sustained public confidence in pension institutions.
Dr. Nageswaran emphasized that universal pension coverage remains an important objective for India’s long-term economic and social development.
PFRDA Highlights Next Phase of Pension Reforms
PFRDA Chairperson Shri S. Ramann noted that the National Pension System (NPS) has successfully established itself as a major retirement savings platform over the years. However, he pointed out that future reforms must increasingly focus on the decumulation phase—the stage when retirees begin drawing regular income from their accumulated pension corpus.
He explained that the collaboration with the Institute of Actuaries of India would help promote research-based financial products that are flexible, transparent, and better suited to the needs of Indian consumers. Such products, he said, can encourage long-term financial security while reducing dependence on short-term investment decisions.
IAI Stresses Importance of Addressing Longevity Risks
Institute of Actuaries of India President Ms. Preeti Chandrashekhar underlined the need to make retirement security a national priority as life expectancy continues to rise.
She said collaboration among regulators, actuaries, economists, and technology experts would be essential for developing personalized retirement solutions capable of addressing longevity risks and financial uncertainty. According to her, innovative pension products backed by sound actuarial analysis can provide greater confidence to individuals planning for retirement.
ADB Supports India’s Pension Expansion
Offering an international perspective, Ms. Ayako Inagaki, Senior Sector Director at the Asian Development Bank (ADB), said India possesses significant potential to expand pension inclusion by leveraging its advanced digital public infrastructure.
She stressed the importance of partnerships involving governments, technology providers, financial institutions, and civil society organizations to strengthen social security coverage. She also reaffirmed ADB’s commitment to supporting India’s pension reforms through technical expertise and knowledge-sharing initiatives.
Conference Discusses Emerging Retirement Challenges
The inaugural day of the Joint Conference on Pensions 2026 featured technical discussions on several important issues affecting retirement planning. Experts examined goal-based decumulation strategies, longevity risks, and the recently introduced Retirement Income Scheme under the National Pension System.
A dedicated panel discussion focused on the challenge of extending pension coverage to India’s “missing middle”—millions of workers employed in informal occupations and digital platform-based jobs. Participants explored affordable and technology-driven social security models that could help improve retirement protection for these sections of the workforce.
Agenda for Day Two
The second day of the conference will focus on innovation in pension products, technology-driven distribution models, artificial intelligence, data analytics, investment strategies, global pension trends, and risk management frameworks.
Experts will also deliberate on policy innovations aimed at strengthening India’s long-term retirement security architecture as the country works toward achieving the vision of a fully pensioned society under the Viksit Bharat 2047 roadmap.
The conference is expected to generate valuable recommendations for policymakers and industry stakeholders seeking to modernize India’s pension system while ensuring financial security for future generations. The partnership between PFRDA and the Institute of Actuaries of India marks an important step toward creating sustainable, inclusive, and research-driven pension solutions capable of meeting the evolving needs of India’s workforce and retirees.
