The Pension Fund Regulatory and Development Authority (PFRDA) has formed a 15-member expert committee, chaired by M.S. Sahoo, to develop a framework for assured payouts under the National Pension System (NPS). This initiative aims to enhance retirement income security by creating regulations for guaranteed income, defining operational parameters like lock-in periods and withdrawal limits, and ensuring consumer protection against mis-selling. The committee will also explore market-based assurance mechanisms and facilitate a smoother transition from the accumulation to the payout phase for subscribers.