New Delhi, June 29 -- India's National Pension System (NPS) has introduced another post-retirement option for subscribers-the Retirement Income Scheme (RIS), designed to provide a steady income stream after retirement.

Subscribers now have three choices for generating post-retirement cash flows: the newly launched RIS, annuity, and Systematic Liquidity Withdrawal (SLW).

Each serves a different retirement need, making it important to understand how they compare before deciding.

RIS is a structured post-retirement withdrawal framework that aims to provide regular income while helping preserve the longevity of the retirement corpus.

At maturity, subscribers can withdraw up to 80% of the corpus as a lump sum or opt for RIS. Under RIS, the...