• PFRDA–SIIC Initiative Unveils Innovative Pathways for India’s Pension Ecosystem

Kanpur, March 24, 2026: The Innovate4NPS Hackathon 2026 – Pitch Day, a collaborative initiative by the Pension Fund Regulatory and Development Authority (PFRDA) and the Startup Incubation and Innovation Centre (SIIC), IIT Kanpur, successfully concluded at IIT Kanpur, moment in the convergence of public policy, financial infrastructure, and technological innovation.

At a time when India is witnessing a gradual demographic shift toward an ageing population, ensuring retirement security has emerged as a critical national priority. Addressing this challenge, the hackathon served as a dynamic platform bringing together innovators, startups, and technologists to develop forward-looking solutions for strengthening the National Pension System (NPS).

More than a conventional competition, the initiative functioned as a live innovation laboratory, where ideas were rigorously evaluated against real-world complexities. The hackathon was centred on the theme of digital trust, aiming to reimagine how millions of Indians will engage with retirement planning in the decades ahead.

The Pitch Day featured a structured, multi-stage evaluation process, where shortlisted teams presented their solutions before a distinguished jury comprising policymakers, industry leaders, and domain experts. The discussions extended beyond traditional pitch formats, focusing on critical aspects such as scalability, regulatory alignment, behavioural finance, and user trust—dimensions critical to any meaningful transformation of the pension ecosystem.

The event also facilitated meaningful networking and cross-sector collaboration, further complemented by the co-located Abhivyakti exhibition, showcasing innovations across deep-tech and public systems.

Delivering the Chairperson’s address, Sivasubramanian Ramann, Chairperson, PFRDA, emphasized the strategic importance of such initiatives in shaping the future of public financial systems. He highlighted that the solutions emerging from the hackathon signal a transition from incremental digitisation to systemic transformation.

The hackathon culminated with the recognition of four winning teams for their innovative, scalable, and policy-relevant solutions: Aditya Veer Singh and Pankaj Goyal (Winning Team 1), Garvit Joshi and Lakshit Joshi (Winning Team 2), Akbar Ali, Aadrila Technologies Pvt. Ltd. (Winning Team 3) and Kuldeep Parashar, PensionBox (Winning Team 4). Their ideas collectively pointed toward a more accessible, intelligent, and user-centric pension ecosystem—one that aligns with India’s broader digital public infrastructure ambitions.

Additionally, the hackathon recognised the top 12 finalists across four problem statements addressing key dimensions of the NPS ecosystem, including onboarding, engagement, analytics, and system efficiency. Innovators such as Prakash Somaiya, Veda Arvind, Dweep Solanki, Shivam Dnyaneshwar Raut, Aryajeet Jha, Revanth Sampatirao, Vishweshwar Mensumane, Ananya Biju, and Shrihari Koushik, among others, showcased solutions that reflected both technical sophistication and a nuanced understanding of user behaviour in financial systems.

As India continues to expand the reach of the National Pension System, initiatives such as this offer a blueprint for the future: where policy is informed by experimentation, technology is grounded in public purpose, and innovation is directed toward systemic impact rather than isolated disruption.

About PFRDA

The Pension Fund Regulatory and Development Authority (PFRDA) is a statutory body under the Ministry of Finance, Government of India. It is responsible for regulating, developing, and supervising the pension sector in the country, ensuring orderly growth and safeguarding subscriber interests.

About SIIC, IIT Kanpur

Established in 2000, the Startup Incubation and Innovation Centre (SIIC) at IIT Kanpur is one of India’s leading technology business incubators. With a portfolio of over 500 startups, SIIC has been instrumental in fostering innovation across sectors such as defence, aerospace, fintech, healthcare, and sustainability. It operates under the Foundation for Research & Innovation in Science & Technology (FIRST), a Section-8 company promoted by IIT Kanpur.

About IIT Kanpur

The Indian Institute of Technology Kanpur, established in 1959, is recognized as an Institute of National Importance by the Government of India. Renowned for excellence in science, engineering, and interdisciplinary education, IIT Kanpur spans a 1,050-acre lush green campus and comprises 20 departments, 27 centres, three interdisciplinary programmes, and three specialized schools. With over 570 faculty members and more than 9,500 students, the institute continues to lead in innovation, research, and holistic development.

For more information, please visit: www.iitk.ac.in