The National Pension System (NPS), which became available for the non-government sector in 2009, has evolved over the last 16 years, and today it is considered one of the most reliable retirement investment options . The government has kept transforming the scheme over the years to cater to the needs of the wider masses by presenting it to them as a market-linked, flexible, and tax-friendly retirement plan.

Especially over the last 10 years, the NPS has undergone massive changes in terms of exposure to market instruments, taxation norms and withdrawal rules. One major change that has recently been brought is the introduction of the Unified Pension Scheme (UPS). The UPS, however, is only for central government employees, except for the Indian armed forces.

Now, the NPS will furthe

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