Top Performing NPS Schemes
The National Pension System (NPS) was launched by the Central Government to all its citizens. Individuals who are employed in the private and public sectors can invest in the scheme.
Under the scheme, investments can be made in security funds and low-risk equity funds.
Under Section 80CCD and 80C of the Income Tax Act, tax benefits of up to Rs.2 lakh can be availed for investments made towards the scheme.
The two different accounts that come under NPS are Tier I and Tier II.
Even though the scheme comes with a lock-in period (until retirement), the money can be withdrawn for certain financial requirements.
Under NPS, you have the choice to allocate the investments. The funds can be chosen either manually or automatically.
Different Pension Fund Managers
The different pension fund managers that are available in India are mentioned below:
- LIC Pension Fund Limited
- Kotak Mahindra Pension Fund Limited
- Reliance Capital Pension Fund Limited
- ICICI Prudential Pension Funds Management
- SBI Pension Funds Private Limited
- UTI Retirement Solutions Limited
- HDFC Pension Management Company
- Birla Sun Life Pension Management Limited
Best Performing NPS Fund Managers
The best performing NPS fund manager under different categories are mentioned below:
Central Government Schemes
- SBI Pension Fund
- UTI Retirement Solutions
- LIC Pension Fund
State Government Schemes
- SBI Pension Fund
- UTI Retirement Solutions
- LIC Pension Fund
NPS Tier-I - Scheme E
- HDFC Pension Fund
- UTI Retirement Solutions
- SBI Pension Fund
- ICICI Pension Fund
- Kotak Mahindra Pension Fund
- Reliance Pension Fund
- LIC Pension Fund
- Aditya Birla Pension Fund
NPS Tier-I - Different Terms
- ICICI Pension Fund - 6 months
- SBI Pension Fund - 1 year
- UTI Retirement Solutions - 3 years
- HDFC Pension Fund - 5 years
NPS Tier-II - Scheme E
- HDFC Pension Fund
- UTI Retirement Solutions
- SBI Pension Fund
- ICICI Pension Fund
- Kotak Mahindra Pension Fund
- Reliance Pension Fund
- LIC Pension Fund
- Aditya Birla Pension Fund
NPS Tier-II - Different Terms
- Kotak Mahindra Pension Fund - 6 months
- SBI Pension Fund - 1 year
- HDFC Pension Fund - 3 years
- UTI Retirement Solutions - 5 years
FAQs on Top Performing NPS Schemes
- Are NPS investments withdrawable prior to reaching retirement age?
Yes, subject to certain restrictions and conditions, NPS does provide partial withdrawal alternatives for some purposes such as marriage, a catastrophic illness, or further education.
- How can I select the NPS programmes with the best performance for my investment?
Based on their historical performance, asset allocation, fund manager performance history, and risk considerations, investors can assess NPS programmes. It can also be beneficial to seek financial advice or carry out in-depth study.
- What advantages come with making investments in NPS plans?
NPS provides a regulated structure for retirement savings, flexibility in investment options, and tax benefits. Additionally, it gives investors a selection of fund managers and investment approaches.
- Is FIEO registration required for Indian exporters?
While FIEO registration is not required for Indian exporters, there are a number of advantages, including government backing, cost-effective exporting, access to foreign markets, and networking opportunities.
- Are NPS returns assured?
NPS investments are vulnerable to market volatility.The Schemes' and Pension Funds' historical performance is in no way a guarantee of their future results.No returns are guaranteed or assured by NPS Trust.Future returns may be impacted by changes in tax benefits and government regulations.
- Which type of NPS is better, corporate or individual?
Both self-employed and salaried workers are qualified for tax benefits under NPS in the 80C and higher tax brackets. Section 80CCD (2) of the Income Tax Act provides additional tax benefits to employees who take part in the Corporate NPS plan.
- Is NPS superior to PPF?
Due to its market linkage, NPS may provide greater profits at a higher risk. Conversely, PPF is a conventional plan that offers assured profits. Investing in PPF is a safer option if you want to use the money for family goals like your child's education, marriage, or home purchase.
- Could I open two NPS accounts?
Can I create more than one NPS account? No, an individual is not permitted to open more than one NPS account. Nonetheless, a person may have two accounts—one with NPS and the other with Atal Pension Yojna.
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