Chief Economic Advisor V Anantha Nageswaran today said that the government needs to encourage households to commit a larger share of their savings to long-term pension products as pension and insurance assets remain a relatively small part of household savings.

He also called for simpler pension products, wider access and stronger retirement-income solutions. He made these remarks while speaking virtually at an event marking National Pension System-NPS Diwas 2026 in New Delhi. He said that Indian households have changed their saving patterns, with a sharp rise in market-linked investments, but pension savings have not increased at the same pace. He said that work on retirement-income schemes, drawdowns and assured payouts will remain at the centre of attention in the years ahead.

NPS Diwas 2026 marks a year of transformative journey for the National Pension System (NPS), reflecting its continued evolution, growing awareness and expanding reach. The occasion highlights the journey towards strengthening pension awareness and encouraging more individuals to take a step towards building a financially secure future through NPS.