National Pension Scheme (NPS) for Senior Citizens in India.
The National Pension Scheme, shortly NPS, is a pension scheme initiated by the government. The Government of India established this for fresh recruits to the central government, barring the armed forces, in 2004 and then extended it to all Indian citizens, including the elderly subsequently. NPS has been an answer to many who were increasingly worried about old-age financial security, creating a corpus to sustain the post-retirement life of an individual. The present article will address the NPS rules and regulations for senior citizens and their merits, demerits, along with strategies which can be applicable for seniors of the old age.