New Delhi, May 25 -- The National Pension System (NPS) has long been one of India's most popular retirement-focused investment schemes, offering market-linked returns along with tax benefits to subscribers. In early May this year, the Pension Fund Regulatory and Development Authority (PFRDA) has also introduced NPS Sanchay, a pension scheme designed for workers in the informal sector.

The new scheme has been introduced at a time when nearly 90% of the country's workforce are employed in the country's informal sector but continue to remain outside formal retirement coverage, PFRDA said earlier. This is due to irregular income patterns, limited financial awareness, and lower access to organised pension products. Such workers include gig wo...