PFRDA Chairman S. Ramann on Pension Reform, NPS & Retirement | India HR Conclave 2026 | 1 Finance

Most Indians know they should save for retirement. But very few people actually do. At the India HR Conclave 2026, S. Ramann, Chairman of PFRDA, joined Keval Bhanushali, Co-Founder and CEO of 1 Finance, for a fireside chat on pension planning, retirement planning, financial security, and the role of employers in helping build and ensure employee financial security. The conversation explored why India moved to the National Pension System (NPS), why that single decision changed the course of the country's finances, and why retirement planning and retirement literacy are still not key parts of employee wellness programs. They also discussed how NPS works, why retirement planning needs to be easier to understand, and why pension products need to become more relevant to everyday life. The chat also covered the modern approach towards work related to Gen Zs, changing careers, flexibility, healthcare, and why retirement planning is not just about old age but about building a retirement corpus that can give your future self the freedom to live with financial independence. What This Video Covers *Why India moved from the old pension scheme to the National Pension System, and what it meant for the country's finances *The original vision of a pension account for every Indian, and why that goal slipped *Why your pension account should follow you, not your employer *What NPS actually is, explained in the simplest terms *Why retirement saving stays low, and what makes people finally engage with it *Why younger generations may need the longest retirement runway of all *The role employers and HR teams can play in retirement readiness They trace the shift from the old pension scheme to the National Pension System and why that single decision changed the course of the country's finances. Ramann explains why a pension account should follow you rather than your employer, describes NPS in the simplest terms he can, and is candid about why so few people engage with retirement saving in the first place. He also makes a striking point: younger Indians, with longer lives and shorter stints at any one job, may need a longer retirement runway than any generation before them. FAQs: What is the National Pension System (NPS)? The National Pension System (NPS) is a retirement planning investment scheme regulated by PFRDA. It is designed to help individuals build a retirement corpus through market-linked investments while also offering tax benefits. The account stays with you throughout your career, even when you change jobs. Why is retirement planning important? Retirement planning helps you build long-term financial security, financial independence, and a steady retirement income. It allows you to maintain your lifestyle and meet your future expenses even after you stop working. Why did India move from the old pension scheme to NPS? India moved from the old pension scheme to the National Pension System because the old defined benefit model was becoming financially unsustainable. The shift to NPS was aimed at creating a more sustainable pension system and reducing the long-term burden on government finances. Can I keep my NPS account when I change jobs? One of the biggest advantages of the National Pension System is portability. Your NPS account belongs to you, not your employer, and it can be carried across companies throughout your career. Why is retirement planning so important for younger generations? Longer life expectancy, changing careers, and greater flexibility at work mean that younger generations may need a larger retirement corpus than previous generations. Starting early can help create long-term wealth and improve financial security after retirement. What role do employers play in retirement readiness? Employers and HR teams can play an important role in improving retirement readiness, retirement literacy, and financial well-being. They can help employees understand retirement planning, encourage participation in NPS, and make financial education an important part of employee benefits instead of focusing only on compliance training. SEBI RIA Registration No: INA000017523 | 1 Finance Private Limited 1 Finance: https://1finance.org.in/Financialplan... 1 Finance is a ​​SEBI-registered fee-only Registered Investment Advisor (RIA), built to give individuals peace of mind through unbiased, holistic financial advice, delivered by Qualified Financial Advisors. Follow us on - LinkedIn -   / 1financehq   Twitter -   / 1financehq   Instagram -   / 1financehq