The Pension Fund Regulatory and Development Authority (PFRDA) has proposed three new pension schemes under the National Pension System (NPS) to provide more flexibility and predictable retirement income. The options include a Flexible Decumulation Scheme with partial market exposure, an Assured Benefit Scheme offering inflation-linked payouts, and a Pension Credit Scheme guaranteeing fixed monthly returns. Open for public feedback until October 31, the proposal aims to help retirees balance growth and security. If approved, these new pension plans could redefine retirement planning in India, blending market-linked growth with long-term income stability and inflation protection.