National Pension System

The National Pension System (NPS) is a government-backed retirement savings scheme in India designed to help individuals build a pension fund for their future. It allows people to invest regularly during their working years, with a portion of their contributions going into various investment options, such as stocks and bonds. Upon retirement, individuals receive a monthly pension based on the accumulated corpus. NPS aims to ensure financial security in old age, encourages long-term savings, and offers tax benefits on contributions. It is open to all citizens, promoting a culture of retirement planning.