India has a young pension industry with schemes such as the National Pension System (NPS), a defined contribution scheme, and the Atal Pension Yojana, a defined benefit scheme targeted at the unorganised sector, that are less than a decade old.
Owing to the increased focus, trends in the pension industry have changed dynamically, and more changes are expected in the new year with regards to regulation, design and charging structure of NPS, pension plans offered by life insurance companies and retirement plans offered by mutual funds.