IJARSAI INTERNATIONAL JOURNAL OF ADVANCED RESEARCH SCIENTIFIC ANALYSIS & INFERENCES
UPID No:1325P4CE
NPS as A Scheme for Non-Government Employees: Exploring the Outlook
Article Title: NPS as A Scheme for Non-Government Employees: Exploring the Outlook
Author(s):
Dr. Vineeth Chandra K.S, Assistant Professor & Head, P.G and Research Department of Commerce, SD College, Alappuzha, Kerala, Affiliated to the University of Kerala, India
Email: vinusdcollege@gmail.com
ORCID ID: https://orcid.org/0009-0000-7839-0342
Reshma Pillai S, Assistant Professor, P.G Department of Commerce
NSS Hindu College, Changanacherry, Kottayam, Kerala
Affiliated to the Mahatma Gandhi University, Kottayam, Kerala, India
Email: reshmapillais@gmail.com
ORCID ID: https://orcid.org/0009-0009-0995-8710
Discipline: Commerce
Article Dates: Received: 05 June 2025 | Revised Submission: 25 July 2025 | Accepted: 28 July 2025 | Available Online: 30 July 2025
DOI: https://doi.org/10.5281/zenodo.16596585
DOI: https://doi.org/10.6084/m9.figshare.29672624
Abstract: National Pension Scheme (NPS) designed to provide financial security as well as stability in retirement for individuals and it is an Indian government-sponsored pension program. In the year 2004 it was launched, the main aim of NPS is to encourage long-term investment and savings for retirement and to create a pension system with sustainability for all citizens. This is an important initiative in the Indian financial system, offering various benefits like tax incentives and flexible investment options. Employees who are not civil servants lack information on the National Pension plan or the benefits of joining it and how to do so. For this reason, some employees take it and as such, those who do are not prepared for retirement. What they fail to do is to ensure their stability in finance by not getting enough information. This is further compounded by the fact that employers and policymakers are failing to adequately communicate the advantages, the worth, and how the scheme operates. This study highlights a significant lack of non-government employee participation, despite the scheme's clear benefits like tax benefits, flexible options for investment, and long-term financial security. To bridge this gap, it is essential to implement enhanced awareness campaigns, simplify the enrolment process, and involve employers more actively by offering incentives and integrating NPS contributions into payroll systems. Promoting financial literacy and introducing more flexible, affordable contribution options can make the NPS more accessible and appealing. By addressing these barriers, it significantly improves participation rates among non-government employees, ensuring better financial security in their retirement years.
Keywords: NPS, PRAN, PFRDA
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