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<h1>National Pension System consultation paper proposes three schemes for flexible and assured pension payouts in decumulation phase.</h1> PFRDA's consultation paper proposes three decumulation options for the National Pension System: a non assured flexible scheme combining a Step up SWP and an annuity; an assured benefit scheme delivering a Target Pension with CPI IW inflation adjustments; and a Pension Credits model converting credits into fixed monthly pensions. The proposals were discussed at a stakeholder seminar and are open for public feedback via a provided Feedback Template on the regulator's website.