The National Pension Scheme (NPS) is a voluntary retirement savings scheme introduced by the Government of India to provide pension benefits and financial security to Indian citizens during their retirement years. The NPS is regulated by the Pension Fund Regulatory and Development Authority (PFRDA) and offers individuals the opportunity to contribute towards a pension account, which is invested in various asset classes, including equities, government bonds, corporate bonds, and alternative assets, to generate long-term returns. The NPS aims to encourage systematic retirement planning and savings among individuals, offering tax benefits and flexibility in contribution amounts and investment choices. Subscribers to the NPS can choose between two types of accounts: Tier I account, which is mandatory and comes with withdrawal restrictions, and Tier II account, which is optional and offers greater flexibility in withdrawals. Upon retirement, subscribers can withdraw a portion of their accumulated NPS corpus as a lump sum and use the remaining amount to purchase an annuity, providing regular pension income for their post-retirement years.