Top Performing NPS Schemes 2024
The National Pension Scheme (NPS) is one of India’s most accepted pension-oriented products. The Central Government introduced the programme as part of a social security initiative for all Indian citizens. The NPS scheme allows individuals employed in public and private sectors to invest in low-risk equity funds, security funds, or alternative investments with good returns.
Investing in NPS will give you an edge over fixed-income schemes and allow you to avail tax benefits up to Rs.1.5 lakh under Section 80C and Section 80CCD of the Income Tax Act, 1961, depending on the type of account, i.e. Tier-I or Tier-II. While the lock-in period on NPS schemes is until retirement, you can choose to withdraw your funds prematurely in specific cases to cater to unforeseen financial requirements.
The pension programme also benefits you from choosing the allocation of your investments. The scheme gives you the option to select the funds automatically or manually. While the active choice will allow you to determine the plan and percentage of your funds you wish to invest in, the auto choice will allocate your investments based on your age and risk profile.
Pension Fund Managers
At present, there are ten pension fund managers in the country.
- SBI Pension Funds Pvt. Ltd.
- LIC Pension Fund Ltd.
- UTI Retirement Solutions Ltd.
- HDFC Pension Management Co. Ltd.
- ICICI Prudential Pension Fund Management Co. Ltd.
- Kotak Mahindra Pension Fund Ltd.
- Aditya Birla Sunlife Pension Management Ltd.
- Tata Pension Management Ltd.
- Max Life Pension Fund Management Ltd.
- Axis Pension Fund Management Ltd.
SBI Pension Fund, LIC Pension Fund, and UTI Retirement Solutions are the only fund managers who manage pension contributions of government employees under NPS.
Top Performing NPS Fund Managers – Central Government Scheme
As of June 2024, UTI Retirement Solutions Fund generated the best returns of 8.89 % in the past five years under the NPS Central Government Scheme. The fund mainly invests in the government (GOI) securities and central government loans. The next in line is recorded by the with the LIC Pension Fund returns generated recorded at 8.84% for the same period. SBI Pension Fund also recorded the returns at 8.83% in the last five years.
Best Performing NPS Fund Managers – State Government Schemes
As of June 2024, the UTI Retirement Solutions Fund generated the highest returns of 8.89% under the NPS state government scheme in the last five years. The fund’s portfolio is predominantly exposed to the financial sector (banking and state development loans). SBI Pension Fund followed it by generating 8.79% returns over the last five years.
Best Performing NPS Tier-I Returns 2024 – Scheme E (as of 19th July 2024)
Pension Fund | NAV | Returns 1 Year | Returns 3 Years | Returns 5 Years | Returns 7 Years | Returns 10 Years | Returns Inception |
Aditya Birla Sun Life Pension Management Ltd. | 28.3381 | 34.09% | 19.11% | 18.58% | 15.42% | NA | 15.61% |
Axis Pension Fund Management Limited | 14.6466 | 35.07% | NA | NA | NA | NA | 24.74% |
HDFC Pension Management Co. Ltd. | 52.7248 | 34.36% | 18.97% | 18.99% | 15.76% | 14.63% | 16.39% |
ICICI Pru. Pension Fund Mgmt Co. Ltd. | 72.5532 | 38.82% | 20.74% | 19.64% | 15.99% | 14.51% | 13.96% |
Kotak Mahindra Pension Fund Ltd. | 66.1775 | 36.57% | 20.31% | 19.44% | 15.71% | 14.46% | 13.27% |
LIC Pension Fund Ltd. | 44.7780 | 34.53% | 19.72% | 18.56% | 14.87% | 13.50% | 14.63% |
Max Life Pension Fund Management Limited | 14.4968 | 36.39% | NA | NA | NA | NA | 22.46% |
SBI Pension Funds Pvt. Ltd | 57.5654 | 32.94% | 18.88% | 17.75% | 14.74% | 13.74% | 12.23% |
Tata Pension Management Pvt. Ltd. | 15.7762 | 42.31% | NA | NA | NA | NA | 27.14% |
UTI Pension Fund Ltd. | 71.9215 | 40.64% | 20.78% | 19.56% | 16.01% | 14.80% | 13.91% |
DSP Pension Fund Managers Private Limited | 12.1643 | NA | NA | NA | NA | NA | 21.64% |
Best Performing NPS Tier-I Returns 2023 – Scheme G (as of 19th July 2024)
Pension Fund | NAV | Returns 1 Year | Returns 3 Years | Returns 5 Years | Returns 7 Years | Returns 10 Years | Returns Inception |
Aditya Birla Sun Life Pension Management Ltd. | 17.3977 | 9.17% | 6.98% | 6.98% | 7.47% | NA | 8.02% |
Axis Pension Fund Management Limited | 11.6139 | 9.30% | NA | NA | NA | NA | 9.06% |
HDFC Pension Management Co. Ltd. | 25.9501 | 9.44% | 6.76% | 6.99% | 7.64% | 9.17% | 9.10% |
ICICI Pru. Pension Fund Mgmt Co. Ltd. | 34.6014 | 9.11% | 6.56% | 6.67% | 7.47% | 9.08% | 8.53% |
Kotak Mahindra Pension Fund Ltd. | 34.6817 | 9.46% | 6.94% | 6.90% | 7.53% | 9.17% | 8.54% |
LIC Pension Fund Ltd. | 27.9735 | 9.16% | 6.77% | 6.81% | 8.00% | 9.65% | 9.82% |
Max Life Pension Fund Management Limited | 11.7532 | 9.04% | NA | NA | NA | NA | 9.21% |
SBI Pension Funds Pvt. Ltd | 37.4890 | 9.37% | 6.77% | 6.87% | 7.56% | 9.20% | 9.10% |
Tata Pension Management Pvt. Ltd. | 11.7146 | 9.01% | NA | NA | NA | NA | 8.69% |
UTI Pension Fund Ltd. | 33.5347 | 9.52% | 7.07% | 6.86% | 7.34% | 8.88% | 8.31% |
DSP Pension Fund Managers Private Limited | 10.7161 | NA | NA | NA | NA | NA | 7.16% |
Best Performing NPS Tier-I Returns 2024 – Scheme C (as of 19th July 2024)
Pension Fund | NAV | Returns 1 Year | Returns 3 Years | Returns 5 Years | Returns 7 Years | Returns 10 Years | Returns Inception |
Aditya Birla Sun Life Pension Management Ltd. | 17.7500 | 7.96% | 6.27% | 7.46% | 8.13% | NA | 8.32% |
Axis Pension Fund Management Limited | 11.3506 | 7.66% | NA | NA | NA | NA | 7.62% |
HDFC Pension Management Co. Ltd. | 26.3590 | 8.15% | 6.43% | 7.70% | 7.77% | 9.04% | 9.25% |
ICICI Pru. Pension Fund Mgmt Co. Ltd. | 39.7855 | 7.88% | 6.15% | 7.17% | 7.48% | 8.95% | 9.54% |
Kotak Mahindra Pension Fund Ltd. | 38.1811 | 7.89% | 6.10% | 6.66% | 6.89% | 8.45% | 9.23% |
LIC Pension Fund Ltd. | 25.7253 | 7.65% | 6.03% | 7.26% | 7.36% | 8.71% | 8.99% |
Max Life Pension Fund Management Limited | 11.3428 | 7.31% | NA | NA | NA | NA | 7.12% |
SBI Pension Funds Pvt. Ltd | 39.8948 | 7.84% | 6.10% | 7.33% | 7.48% | 8.77% | 9.55% |
Tata Pension Management Pvt. Ltd. | 11.3502 | 7.92% | NA | NA | NA | NA | 6.90% |
UTI Pension Fund Ltd. | 35.3275 | 7.73% | 5.99% | 7.02% | 7.13% | 8.50% | 8.69% |
DSP Pension Fund Managers Private Limited | 10.4346 | NA | NA | NA | NA | NA | 4.35% |
Best Performing NPS Tier-I Returns 2024 – Scheme A (as of 17th Dec 2024)
Pension Fund | NAV | Returns 1 Year | Returns 3 Years | Returns 5 Years | Returns 7 Years | Returns 10 Years | Returns Inception |
Aditya Birla Sun Life Pension Management Ltd. | 15.6416 | 9.86% | 7.22% | 6.13% | 6.45% | NA | 6.44% |
Axis Pension Fund Management Limited | 11.1612 | 6.76% | NA | NA | NA | NA | 6.57% |
HDFC Pension Management Co. Ltd. | 18.7949 | 10.57% | 8.60% | 8.36% | 8.70% | NA | 8.47% |
ICICI Pru. Pension Fund Mgmt Co. Ltd. | 16.8348 | 10.92% | 6.97% | 6.74% | 7.08% | NA | 7.05% |
Kotak Mahindra Pension Fund Ltd. | 16.7154 | 11.89% | 6.03% | 6.56% | 7.00% | NA | 6.86% |
LIC Pension Fund Ltd. | 17.4446 | 7.14% | 6.63% | 7.15% | 7.61% | NA | 7.44% |
Max Life Pension Fund Management Limited | 9.7147 | 7.16% | NA | NA | NA | NA | -1.57% |
SBI Pension Funds Pvt. Ltd | 19.1448 | 12.66% | 7.22% | 9.09% | 8.98% | NA | 8.74% |
Tata Pension Management Pvt. Ltd. | 11.4263 | 8.02% | NA | NA | NA | NA | 7.28% |
UTI Pension Fund Ltd. | 16.0130 | 7.87% | 6.24% | 5.84% | 6.25% | NA | 6.27% |
DSP Pension Fund Managers Private Limited | 10.3380 | NA | NA | NA | NA | NA | 3.38% |
Top Performing NPS Tier-II Returns 2024 – Scheme E
Pension Fund | Inception Date | NAV | Returns 1 Year | Returns 3 Years | Returns 5 Years | Returns 7 Years | Returns 10 Years | Returns Inception |
Aditya Birla Sun Life Pension Management Ltd. | 09-May-17 | 28.4327 | 34.82% | 19.43% | 18.84% | 15.61% | NA | 15.66% |
Axis Pension Fund Management Limited | 21-Oct-22 | 14.7666 | 35.59% | NA | NA | NA | NA | 25.34% |
HDFC Pension Management Co. Ltd. | 01-Aug-13 | 45.5908 | 34.43% | 19.03% | 19.00% | 15.77% | 14.61% | 14.86% |
ICICI Pru. Pension Fund Mgmt Co. Ltd. | 21-Dec-09 | 57.0884 | 37.40% | 20.53% | 19.56% | 15.98% | 14.49% | 12.70% |
Kotak Mahindra Pension Fund Ltd. | 14-Dec-09 | 58.2570 | 36.63% | 20.33% | 19.25% | 15.62% | 14.38% | 12.84% |
LIC Pension Fund Ltd. | 12-Aug-13 | 37.1902 | 33.04% | 19.48% | 18.44% | 14.68% | 13.01% | 12.78% |
Max Life Pension Fund Management Limited | 12-Sep-22 | 15.3182 | 35.61% | NA | NA | NA | NA | 26.20% |
SBI Pension Funds Pvt. Ltd | 14-Dec-09 | 53.0947 | 32.40% | 18.77% | 17.76% | 14.76% | 13.75% | 12.13% |
Tata Pension Management Pvt. Ltd. | 19-Aug-22 | 15.7542 | 42.06% | NA | NA | NA | NA | 27.05% |
UTI Pension Fund Ltd. | 14-Dec-09 | 57.3620 | 37.08% | 19.64% | 18.99% | 15.78% | 14.65% | 12.72% |
DSP Pension Fund Managers Private Limited | 27-Dec-23 | 11.7341 | NA | NA | NA | NA | NA | 17.34% |
NPS Pension Calculator
Calculate monthly pension & tax benefits through Cleartax NPS Calculator. Utilise the pension calculator to know the lump sum amount and the provisional pension you can expect on maturity or at the time of retirement based on your monthly instalments. All you have to do is key in the basic parameters of your scheme. The automated tool will calculate the tentative pension and the total corpus you can expect at the end of the tenure.
Most investors choose to invest in the NPS only to save on taxes. However, with the contribution to the NPS having been mandated for state and central government employees, many consumers have opted for the pension programme, unaware of the tax implications and benefits NPS offers. Hence, it is advised to ensure that you understand the rules regarding the withdrawal of funds and mandatory clauses involved in the product before you begin investing.
Returns under NPS Schemes (Download)
Download NPS scheme performance report as of 19th July 2024 here.
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