What is the National Pension System (NPS)?

NPS is a government-sponsored, market-linked pension scheme regulated by PFRDA. Subscribers choose asset allocation between equity (E), corporate bonds (C), and government securities (G). Additional tax benefits include ₹50,000 deduction under Section 80CCD(1B) over and above the ₹1.5 lakh 80C limit, making it tax-highly efficient.