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It is an investment plan offered by life insurance companies to help create retirement funds. The plan provides a pre-specified and regular pension, preventing financial shortfalls in post-employment years.The National Pension Scheme is backed by the Government of India and regulated by the Pension Fund Regulatory and Development Authority of India (PFRDA). It can be used by private, public and unorganised sector employees to save for their retirement. NPS allows you to invest in equity and debt funds. The rate of return can vary based on the funds you choose to invest in.