New Delhi, Sept. 11 -- Planning for retirement? If you're relying on a superannuation plan, you might be leaving a big chunk of your savings on the table.

Superannuation is a retirement savings scheme where your employer sets aside funds on your behalf throughout your career. But here's the catch-when you retire, you're allowed to withdraw only one-third of the total amount as a lump sum. The remaining two-thirds are locked into an annuity, which offers you a modest monthly income, often limiting your financial freedom when you need it most.

But, there's a smart workaround-you can exercise the one-time option to transfer your entire superannuation corpus to a National Pension System (NPS) account.

Also, keep in mind that retirement age...