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Key Takeaways
The National Pension System (NPS) is a regulated, contribution-based retirement savings scheme available to eligible Indian citizens State pension eligibility and benefits vary, while NPS follows uniform national guidelines under PFRDA
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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.