What makes the NPS so crucial to retirement planning in an ageing India

India still does not have a "one retirement account" concept, with the intended money distributed across various schemes. Pension fund managers are underlining NPS as the preferred way ahead

 

In 2050, one in five Indians would be eligible pensioners, having crossed the benchmark age of 60, and in dire need of old-age financial security, aka pensions. Currently, about one in ten Indians have passed 60, and the need to provide old-age security at the national level is thus going to double in the course of three decades, or even earlier. 

But how is retirement money managed in India? The short answer is that there is no single-window management for that. Let us dive into the long answer. 

Pension management is broadly dispersed across a few