Choose the correct statement related to the National Pension Scheme (NPS).
Detailed Explanation:
National Pension Scheme (NPS) is a voluntary retirement savings scheme launched in 2004 for government employees and extended to all citizens in 2009. It is regulated by the Pension Fund Regulatory and Development Authority (PFRDA), established under the PFRDA Act, 2013.
IRDA regulates insurance and not pension funds, making Statement 2 incorrect. NPS does not guarantee regular income to all citizens automatically; it is a voluntary contributory scheme, making Statement 1 incorrect.
Therefore, only Statement 3 is correct, making Option 3 the correct answer.
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