Citizens of India will now have an option of securing their post-retirement life with the New Pension Scheme established by the Government under the Pension Fund Regulatory and Development Authority (PFRDA).

The new pension scheme(NPS) will allow the fund investment of nearly 50% in the high risk stock markets. Meena Chaturvedi, the Executive Director(ED) of Pension Fund Regulatory Development Authority (PFRDA) confirmed the developments and said that it would be effective from May 1st 2009 onwards. Due to the elections, the new pension scheme was delayed since April 1, 2009.

For more information on new pension scheme(NPS) you can checkout some details here. PFRDAdetails here. We will update more news after some further developments.Some other interesting information on PFRDA India here. Now if you are looking to open a new pension scheme account, you can check out this to get useful information.