New Delhi, May 16 -- The Pension Fund Regulatory and Development Authority (PFRDA) has rolled out Retirement Income Schemes (RIS) and drawdown facilities under the National Pension System (NPS), enabling subscribers to withdraw their retirement corpus in phases after retirement while keeping the remaining funds invested.

The regulator said the aim is to provide subscribers with a "more flexible periodic payout options during their decumulation phase while continuing to support corpus appreciation through the retirement income schemes"

PFRDA circular, released on May 15, said "subscribers who opt for the facility will be allowed to receive payouts on a periodic basis - monthly, quarterly or annually - for up to 85 years of age, or as per...