National Pension System (India)

The National Pension System (NPS) in India is a government-sponsored retirement savings scheme designed to provide financial security to individuals after they retire. Launched in 2004, it encourages both private and public sector workers to save for their retirement through regular contributions. The funds are invested in market-linked instruments, which can provide higher returns compared to traditional savings. Upon retirement, individuals receive a pension based on their accumulated savings. The NPS also offers tax benefits, making it an attractive option for long-term financial planning and ensuring a steady income during retirement.