NATIONAL PENSION SCHEME, NPS
National Pension Scheme
The National Pension Scheme, or NPS, is a voluntary, defined contribution retirement savings scheme in India. NPS is for employees in the private, public, and unorganized sectors. Employees save money while at work by depositing a certain percentage of their wages and reap the benefits of the investment after retirement.
Features of the NPS
- The NPS allows subscribers to contribute to the scheme on a regular basis at their own convenience.
- Because the NPS is a portable system, users can continue to contribute even if they change employment or relocate to a different region of the country.
- Employees and employers can avail of tax benefits from the NPS.
- A variety of investment options are available in the scheme. Equity funds, debt funds, and hybrid funds are all options.