NPS is ready for a makeover. Are you?

INDIA'S PENSION INDUSTRY is entering a defining moment, and there is a bold ambition to expand the National Pension System (NPS) tenfold in five years.

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The goal may sound audacious, but the building blocks are already in place.

Fortoolong, pensions in India have struggled tocompetewith other savings products. Tax efficiency alone cannot make a retirement product attractive. Savers want choice, flexibility, and trust. The reforms now underway seek to deliver exactly that, reshaping the pension ecosystem for both institutions and individuals.

Choice, not constraint

The launch of the Multi Scheme Framework (MSF) is a game-changer. For the first time, Pension Fund Managers (PFMs) can offer multiple differentiated schemes within NPS.This ends the one-size-fits-all model that has limited appeal for many investors.