The National Pension System (Nps): Awareness, Challenges and Investment Behavior with Special Reference to Mumbai

Abstract

A government-backed retirement savings plan, the National Pension System (NPS) aims to give people financial stability once they retire. This study examines how Mumbai's working professionals view and understand NPS, evaluating the variables that affect their participation and investment choices. The study looks at important factors such adoption hurdles, system trust, predicted benefits, and NPS understanding using a systematic survey and analysis. Data collected from 119 respondents was analysed through Percentages and Chi-Square tests. The results provide light on how professionals behave when it comes to adopting NPS as a retirement planning tool. This study advances our knowledge of attitudes toward financial planning and can help financial institutions and policymakers better promote NPS.