The NPS Equity Schemes or the equities falling under the National Pension Scheme has outshined in the recent weeks.
The equity markets have paved the way for many equity-oriented schemes resulting in high returns.
As per the data charts, a lot of pension fund managers reported a return of more than 13 percent of annualized returns. This value was reported under the segment of NPS Tier-1 accounts and was the highest in the last five years.
NPS Tier-1 is the principle or the main retirement account. It doesn’t allow simple or easy withdrawal unless a person reaches to the age of 60 years.
After the recipient or the candidate turns 60, the account gets ready for vesting. Also, partial and premature withdrawals are permissible in case of specific events like treatment of critical disease, house purchase etc.
Now let us talk about the outperformers of the year. With 15.71 percent of returns in August, the HDFC Pension Fund stood as the topper in the list.
It became the one and only contender to cross the Nifty 50 TRI benchmark.
Along with HDFC, the UTI Retirement Solutions also performed very well with returns upto 14.49%.
With 14.43 percent, the ICICI Prudential Pension Fund also stood at third position in the line. All these benchmarks are set on a basis of past five years’ performance.
Check all the recent news updates and share market updates