As feedback from National Pension System (NPS) subscribers indicates reluctance to invest in annuities, Pension Fund Regulatory and Development Authority ( PFRDA ) Chairman Sivasubramanian Ramann says it is looking at alternatives. Assured payouts with inflation protection and step-up systematic withdrawal plans are being vetted, Ramann tells Saikat Neogi and Prasanta Sahu. Edited excerpts.

How are you working to make annuities more appealing?

Our consultation paper proposes diverse pension payment products for NPS subscribers, offering models for wealth maximisation, guaranteed pension, and inflation adjustment. The government supports this approach, and insights from the Unified Pension Scheme (UPS) have been incorporated to enhance flexibility and subscriber choice in retirement

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