The Pension Fund and Regulatory Authority (PFRDA) has recently released an elaborative consultation paper with a heading "Enhancing the National Pension System: Proposals for Flexible, Assured and Predictable Pension Schemes".

PFRDA offers the stakeholders across various sectors to provide opinion on proposed reforms which is focused at powering the National Pension System (NPS).

Yesterday, the paper showcases three innovative pension scheme options under the NPS structure that is designed to offer the subscribers greater flexibility, assurance and predictability in their post- retirement income, ANI cited by the release of Ministry of Finance.

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The first one is Pension Scheme-1 (Non-Assured, Flexible Decumulation),highlights wealth maximization by

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