HDFC Pension survey finds higher NPS consideration among aware urban savers

HDFC Pension’s NPS Preference Index rose to 57 in its 2026 study, from 54 in 2023, with consideration of the pension product increasing more than familiarity or appeal.

The study, conducted with Ipsos, covered face-to-face interviews with 1,812 NPS-aware consumers aged 30–55 in SEC A households across 13 cities. That selected sample is important: the findings describe surveyed respondents and do not establish the retirement preferences of all Indians.

Consideration rose six points to 59, while familiarity reached 58 and appeal 56. The index is scored on a zero-to-100 scale; a score of 57 is not a statement that 57% of Indians use NPS.

Respondents’ estimated ideal retirement corpus rose to INR 1.5 crore from INR 1.34 crore in the previous study. That is a reported expectation, rather than a universal estimate of what every household needs. The release does not establish a single adequacy benchmark applicable across incomes, spending patterns and retirement ages.

The public report’s study-design page adds useful qualifications. The sample was 75% male and 25% female, and it says Bengaluru was added and government employees excluded compared with the previous wave. Changes in composition therefore warrant care when interpreting the movement since 2023.

The findings suggest stronger interest among this group, but preference and stated consideration are different from enrolment or funded retirement readiness. The study was commissioned by a pension fund manager with a commercial interest in NPS; the presence of PFRDA’s chairperson at the launch does not make it a regulator-issued national survey.