NEW PENSION SCHEMES GIVES 12% AVERAGE RETURNS LAST YEAR (FIRST YEAR OF ITS OPERATION) FOR PUBLIC AND 14.82% AVERAGE RETURNS FOR CENTRAL GOVT. EMPLOYEES
The New Pension Scheme (NPS) for all citizens of India introduced in May 2009, has generated an average return of 12% in the first year of its operation, outperforming most other long-term savings scheme such as the Employees' Provident fund and term deposits. the year-old scheme for all citizens of India has a corpus fund of just Rs 10 crore with 6000 subscribers as compared with the Employees provident Fund (EPF) wich has over 4.5 crore subscribers with a corpus fund of over 262000 crore as on March 209. NPS corpus is managed by six different fund managers. The equity investments of the scheme has generated a 26% return. the new Pension scheme corpus is eqally divided amongst the six fund managers including SBI Pension Funds, UTI Retirement Solutions, IDFC Pension funds, ICICI Prudential Pension Funds, Kotak Mahindra Pension Funds and Reliance Capital Pension Fund.
Central Govt Employees who joined as a part of the contributory New Pension Scheme (NPS) have earned a weighted average returns of 14.82 % during 208-09, the first year when three fund managers managed a corpus of around Rs. 2000 crore
- Akula . Praveen Kumar
Monday, May 24, 2010
NEW PENSION SCHEME GIVES MORE RETURNS
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