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Glossary
National Pension System (NPS): A voluntary, government-regulated retirement savings scheme for Indian citizens PFRDA (Pension Fund Regulatory and Development Authority): The regulatory body overseeing NPS and pension fund operations in India
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What is the National Pension System (NPS)?
The National Pension System (NPS) is a defined contribution retirement scheme regulated by the Pension Fund Regulatory and Development Authority (PFRDA), designed to help individuals build a retirement corpus over time. It was introduced for most Central Government employees joining service on or after 1 January 2004 and has since been extended to state government employees, private-sector employees, and all Indian citizens on a voluntary basis.