National Pension System (NPS) is a pension cum investment scheme launched by Government of India for central government staffs in the year 2004. The Central Government has made the National Pension System (NPS) to be available to all citizens of India from May 01, 2009. National Pension System (NPS), regulated by Pension Fund Regulatory and Development Authority (PFRDA), is an important milestone in the development of a sustainable and efficient voluntary defined contribution pension system in India.
National Pension System (NPS) is to provide old age security to Citizens of India. It brings an attractive long term saving avenue to effectively plan your retirement through safe and regulated market-based return. The Scheme is regulated by Pension Fund Regulatory and Development Authority (PFRDA).National Pension System Trust (NPST) established by PFRDA is the registered owner of all assets under NPS.
It has the following broad objectives :
- Provide old age income.
- Reasonable market based returns over the long term.
- Extending old age security coverage to all citizens.