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What is the National Pension System (NPS)?

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As the name suggests, NPS (formerly New Pension Scheme) is a pension system that was launched by the government on April 1, 2004. This is a defined contribution pension scheme, meaning under NPS a customer will invest a pre-defined sum every month in a fund chosen by him/her and at the time of retirement will have a lump sum amount depending on the performance of that fund. This is different from the earlier pension system where the amount one received every month after retirement was set by the government and increased periodically (also called defined benefit system). Those who are under the NPS, after retirement they will have to depend on their corpus for their monthly pension.


Although started as a pension system only for the government employees, now NPS has been opened to people from the private sector. NPS is regulated by Pension Fund Regulatory and Development Authority (PFRDA). Send in your suggestions, queries to investor.swatantra@gmail.com; for a free financial planning booklet, please SMS `EDU' to 5676756 Mutual Fund investments are subject to market risks, read all scheme-related documents carefully

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