NPS has been roled out for all citizens from the year of

Solution

With a view to providing adequate retirement income, the National Pension System (NPS) was introduced. It has been made mandatory for all new recruits to the government (except armed forces) with effect from January 1, 2004, and has also been rolled out for all citizens with effect from May 1, 2009, on a voluntary basis. The features of the NPS design are: self-sustainability, portability and scalability. Based on individual choice, it is envisaged as a low cost and efficient pension system backed by sound regulation