
Reimagining Retirement Security: The Evolution of India’s National Pension Scheme Since 2004
The National Pension System (NPS) was notified by the Ministry of Finance on 22 December 2003 and became effective from 1 January 2004. Originally introduced as the New Pension Scheme, it was designed as a new defined contribution system to replace the traditional defined benefit Old Pension Scheme (OPS) for new government recruits and represents a major shift in India’s approach to old-age income security.






