One of the most popular retirement benefits schemes launched by the Central government, the National Pension Scheme (NPS) is retirement benefit plan. Through this scheme, individuals employed in both the public and private sectors can invest in low-risk equity funds or securities for good returns and to build a corpus fund for post-retirement needs. Investing in NPS (both Tier-I and Tier-II accounts) also provides an edge over fixed-income plans as it allows subscribers to avail tax benefits of up to Rs 2,00,000 lakh annually under Section 80C and Section 80CCD of the Income Tax Act, 1961. 

What are the benefits of the NPS?

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A subscriber can add money to the NPS any time in a financial year. The scheme is flexible and allows individuals to choose their own investment amount. The NPS scheme is regulated by the Pension Fund Regulatory and Development Authority (PFRDA).

Investors can make premature withdrawals under certain condition, despite the scheme having a lock-in period till the investor reaches the age of 60 years. If you are looking for the best NPS schemes to invest in for your retirement plans, there are a few options.

Best NPS Schemes in 2023

The following schemes are among the top-performing pension funds in the country. Here are the returns they offer in 1, 3 and 5 years period.

Scheme Name

NAV

Return on investment (in %)

1 year

3 years

5 years

ICICI Prudential Pension Fund - Scheme E - TIER II

41.8998

13.58

22.12

12.13

Kotak Pension Fund - Scheme E - TIER I

48.7982

13.23

21.25

12.53

Kotak Pension Fund - Scheme E - TIER II

42.9376

13.23

21.11

12.43

ICICI Prudential Pension Fund - Scheme E - TIER I

52.6524

12.97

21.89

11.92

SBI Pension Fund - Scheme E - TIER II

40.4685

12.49

20.63

11.23

LIC Pension Fund - Scheme E - Tier I

33.6042

11.91

22.04

11.56

HDFC Pension Fund - Scheme E - Tier I

39.3384

10.88

20.82

11.94

SBI Pension Fund - Scheme E - TIER I

43.4624

11.76

20.45

11.10

Birla Sun Life Pension Scheme - Scheme E - TIER I

21.2267

11.59

19.64

11.20

Birla Sun Life Pension Scheme - Scheme E - TIER II

21.1914

11.58

19.81

11.20

Based on the provided details, you can make a comparison between the plans and pick the appropriate NPS plan, as per your needs.