New Delhi, May 15 -- India's pension regulator has introduced retirement income schemes (RIS) and drawdown options under the National Pension System (NPS), allowing subscribers to choose phased withdrawals from their pension corpus after retirement while remaining invested in the scheme.

The regulator said the move aims to provide subscribers "more flexible periodic payout options during their decumulation phase while continuing to support corpus appreciation through the retirement income schemes".

According to a circular issued by the Pension Fund Regulatory and Development Authority on 15 May, subscribers who opt for the facility will be allowed to receive payouts on a periodic basis - monthly, quarterly or annually - for up to 85 yea...