The Pension Fund Regulatory and Development Authority (PFRDA) has introduced the Multiple Scheme Framework (MSF) to expand the National Pension System (NPS) for non-government subscribers. It allows private sector workers to hold multiple pension schemes under a single Permanent Retirement Account Number (PRAN). Pension Funds can now design schemes tailored to specific groups like corporate employees or self-employed professionals. Each scheme will have moderate and high-risk options, with the high-risk option allowing for up to 100% equity allocation. It will give subscribers greater flexibility and diversification options while maintaining low costs, with total annual charges capped at 0.30% of Assets Under Management.