PFRDA's Jagpal: Corporate NPS Can Supplement EPF Pension Layer

A leader from India's pension regulator talked about a savings plan called Corporate NPS that companies can offer to their workers.

This plan helps people save extra money for the time after they stop working.

It works alongside another retirement plan called EPF, like building an extra layer on top of the foundation.

If you change jobs, the money in the plan can move with you.

Companies that put money into this plan can also pay less tax.

Many companies and millions of workers are already using it.

People who work at companies that joined the plan can sign up.

They need to be between 18 and 85 years old.

Savers can either choose how their money is invested or let the plan adjust it automatically as they get older.

The idea is to help workers build a bigger retirement nest egg than the minimum required by law.