The National Pension System (NPS) has emerged as a popular retirement planning tool over the years, thanks largely to income tax sops dangled by government. Compared to Employees' Provident Fund (EPF), it offers greater flexibility and control to subscribers over their investments. But for those who want to leave the decision to professionals, it offers an 'auto' choice, with 3 lifecycle funds to choose from—Conservative, Moderate and Aggressive. Allocations to 3 asset classes—equity, corporate bonds and government securities—are pre-decided, based on your age. Younger you are, higher can be the allocation to equities, depending on your risk appetite. It will decrease as you grow older.