<h1>Government Upholds NPS for Post-2004 Recruits; Amends Withdrawal Norms, Raises Joining Age to 65.</h1> The National Pension System (NPS) is a defined contribution pension scheme designed for subscriber welfare, replacing the unsustainable defined benefit system. Managed by the Pension Fund Regulatory and Development Authority (PFRDA), NPS offers low-cost, transparent, and portable pension solutions. Contributions to NPS Tier-I accounts are tax-deductible, with additional rebates available. Subscribers can withdraw up to 25% of their contributions before retirement under certain conditions. Recent amendments have eased withdrawal norms and increased the joining age limit to 65. Despite demands to revert to the old pension scheme, the government maintains NPS for employees recruited after January 1, 2004.