An effective retirement fund should definitely be a part of each’s person’s financial planning. The government of India introduced the National Pension Scheme (NPS) which is a contribution-based theme, with the purpose of extending old age security coverage to anyone opting for this scheme. It is a long-term investment that yields reasonable returns. All Central and State government employees and all citizens of India falling between the 18 to 60 years of age are qualified to invest in NPS. Even if you are a pre-existing pension account holder, you can apply for this scheme with a fresh registration. You can operate your NPS account anywhere in India. NPS is also associated with an additional tax benefit under section 80CCD (1B) over and above the benefit received under section 80CCE of the Income Tax Act.