The New Pension System (NPS) is a voluntary pension scheme run by the Government of India. It allows individuals to contribute funds until age 60, at which point they can withdraw up to 60% of their savings, with the remaining 40% used to purchase an annuity to provide a lifelong pension. The NPS has two tiers - Tier I is the primary account required to open Tier II, which allows partial withdrawals but Tier I funds cannot be withdrawn until age 60. Contributions and withdrawals are facilitated through cash, cheque, or other financial instruments. The Pension Fund Regulatory and Development Authority regulates the NPS and involvement of other agencies such as pension fund managers, record keepers, and point