Published on August 08, 2026 • Last updated August 08, 2026
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The National Pension System (NPS) is a voluntary, defined-contribution retirement savings scheme designed to enable systematic savings during working life.
The National Pension System (NPS) is a voluntary, defined-contribution retirement savings scheme created by the government to provide financial security and monthly income to individuals post-retirement. It enables working professionals to systematically accumulate a pension corpus throughout their career.
Contributions in NPS are professionally managed by pension fund managers across four asset classes: Equities (E), Corporate Bonds (C), Government Securities (G), and Alternative Assets (A). Investors can customize their asset split or choose an automated age-based allocation that dynamically reduces equity exposure as they approach retirement age.
Upon reaching age 60, up to 60% of the accumulated NPS corpus can be withdrawn completely tax-free as a lump sum. The remaining minimum 40% must be invested in a regulated annuity plan to ensure a guaranteed lifelong monthly pension stream. NPS also offers exclusive additional income tax deductions, making it a cornerstone for retirement planning.
Learn how NPS is calculated
Contributions are tax-deductible up to ₹1.5 Lakhs under Section 80C. An additional deduction of up to ₹50,000 is allowed under Section 80CCD(1B).
Tier I is a mandatory, non-withdrawable retirement account with tax benefits. Tier II is a voluntary savings account with flexible withdrawals but no tax benefits.
Yes. Investors can choose "Active Choice" (manually deciding split between Equity, Corporate Debt, and Govt Bonds, up to 75% equity) or "Auto Choice" (lifecycle fund that dynamically changes equity allocation based on age).
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