New Delhi, Aug. 27 -- For young salaried employees, the Employees' Provident Fund (EPF) is often the first step towards building a retirement corpus. But should investors who already contribute to EPF also put money into the National Pension System (NPS)?

Experts say the two need not be viewed as competing retirement products. While EPF provides a relatively stable retirement foundation, NPS can add market-linked exposure and greater flexibility in asset allocation. For investors in their 20s and early 30s, a long investment horizon also gives their contributions more time to compound.

The decision, however, should depend on the retirement corpus required, existing savings, risk appetite and liquidity needs rather than tax benefits alon...