NPS: Government employees can avail these benefits under the scheme
National Pension System: The government employees who take retirement prior to the age of superannuation, not completing the minimum number of 20 years of service requirement, can also avail of the benefits of new National Pension System (NPS), launched in January 2004 for government employees, later opened to all.
Under NPS, there is a provision for voluntary retirement/exit prior to the age of superannuation. Image source: Reuters