NPS (National Pension System)

NPS (National Pension System)

  • National Pension System (NPS) is a unique scheme launched by Govt. of India which allows citizens of India, from 18-65 years of age, to effectively plan for their retirement through safe and reasonable market based returns

  • A subscriber can contribute regularly in their pension account during their working life. At retirement, he/she can withdraw a part of the NPS corpus in lump sum and use the remaining corpus to buy annuity to secure their retired life. Pension can be opted from 100% accumulated amount as well

  • On NPS account opening, a unique number called PRAN (Permanent Retirement Account Number) is generated and a PRAN card is allotted to each subscriber ICICI Prudential PFM is empaneled with PFRDA as POP to offer NPS under ‘Corporate’ & ‘All Citizen Model’.

NPS: Salient features & benefits

  • Portable - Retirement account (with unique PRAN) may be retained across employers, location etc.
  • Unit linked – Money contributed in NPS get invested in Market
  • Flexible - Choice of fund managers, investment options, annuity plans, annuity service providers and Point of Presence (POPs)
  • Economical - Lowest cost investment product currently available in the market
  • Unique tax benefits.

National Pension System (NPS) – Equity Plans

Funds Assets (₹ Cr.) Return (%) NAV As on 28.07.2023
1-Year 3-Year 5-Year
Aditya Birla Sun Life Pension 352.88 18.56 20.24 12.05 21.53
Axis Pension Fund 133.43 - - - 11.02
HDFC Pension Fund 23805.24 18.08 21.95 12.94 39.89
ICICI Prudential Pension Fund 7583.13 19.93 22.83 12.77 53.28
Kotak Pension Fund 1323.95 19.61 21.94 13.54 49.34
LIC Pension Fund 3799.45 18.57 23.30 12.52 33.94
Max Life Pension Fund 88.98 - - - 10.84
SBI Pension Fund 12613.69 18.56 21.31 12.11 44.12
Tata Pension Management 64.59 - - - 11.34
UTI Retirement Solutions 1694.9 18.07 22.47 12.20 51.99

Features & Benefits of NPS

  • Portable -retirement Account (with unique PRAN) may be retained across employers, location etc.
  • Unique tax benefits:-
    1. Deduction up to 50,000 U/S 80CCD(1B)
    2. Tax Deduction up to 1,50,000 U/S 80CCE
  • Age limit 18-65 years.

National Pension System (NPS) – Government Bonds Plan

Funds Assets (₹ Cr.) Return (%) NAV As on 28.07.2023
1-Year 3-Year 5-Year
Aditya Birla Sun Life Pension 251.93 9.37 4.66 8.97 15.95
Axis Pension Fund 128.98 - - - 10.65
HDFC Pension Fund 17056.22 8.78 4.39 8.96 23.75
ICICI Prudential Pension Fund 6493.16 8.84 4.39 8.70 31.76
Kotak Pension Fund 985.21 8.97 4.47 8.92 31.73
LIC Pension Fund 4116.62 9.33 4.52 9.39 25.66
Max Life Pension Fund 143.28 - - - 10.80
SBI Pension Fund 13876.68 9.15 4.34 8.80 34.34
Tata Pension Management 48.99 - - - 10.76
UTI Retirement Solutions 1440.95 9.75 4.26 8.60 30.67

Features & Benefits of NPS

  • Portable -retirement Account (with unique PRAN) may be retained across employers, location etc.
  • Unique tax benefits:-
    1. Deduction up to 50,000 U/S 80CCD(1B)
    2. Tax Deduction up to 1,50,000 U/S 80CCE
  • Age limit 18-65 years.

National Pension System (NPS) – Corporate Debt Plans

Funds Assets (₹ Cr.) Return (%) NAV As on 28.07.2023
1-Year 3-Year 5-Year
Aditya Birla Sun Life Pension 154.53 7.70 5.55 8.59 16.50
Axis Pension Fund 64.40 - - - 10.58
HDFC Pension Fund 10181.63 7.50 5.98 8.77 24.45
ICICI Prudential Pension Fund 3826.75 7.77 5.73 8.37 37.01
Kotak Pension Fund 582.51 7.42 5.31 7.58 35.50
LIC Pension Fund 2248.60 7.61 5.54 8.47 23.98
Max Life Pension Fund 60.04 - - - 10.60
SBI Pension Fund 6686.98 7.40 5.58 8.42 37.12
Tata Pension Management 27.96 - - - 10.55
UTI Retirement Solutions 792.71 7.80 5.20 7.98 32.89

Features & Benefits of NPS

  • Portable -retirement Account (with unique PRAN) may be retained across employers, location etc.
  • Unique tax benefits:-
    1. Deduction up to 50,000 U/S 80CCD(1B)
    2. Tax Deduction up to 1,50,000 U/S 80CCE
  • Age limit 18-65 years.