The national pension system (nps) is a defined contribution pension system in india, regulated by pension fund regulatory and development authority (pfrda)

It was established by PFRDA as per the provisions of the Indian trust act of 1882 for taking care of the assests and funds under this scheme for the best interest of the subscribers it was formed on 1 January 2004 it’s purpose is to provide defined contribution based pension for the retires and extend old age security coverage to all citizens

Investment in nps is eligible for tax benefits as follows upto 150000 under section 80ccd(1) upto 50000 under section 80CCD(1b) this is over and about tax benefits under section 80 C