The National Pension Scheme (NPS) is one of India’s most accepted pension-oriented products. Investing in NPS will give you an edge over fixed-income schemes and allow you to avail tax benefits up to Rs.1.5 lakh under Section 80C and Section 80CCD of the Income Tax Act, 1961. 

It also allows you to choose the allocation of investments. While the active choice will allow you to determine the plan and investment percentage, the auto choice will allocate your investments based on your age and risk profile.

Pension Fund Managers

At present, there are 11 NPS pension fund managers in the country.

• SBI Pension Funds Pvt. Ltd.
• LIC Pension Fund Ltd.
• UTI Retirement Solutions Ltd.
• HDFC Pension Management Co. Ltd.
• ICICI Prudential Pension Fund Management Co. Ltd.
• Kotak Mahindra Pension Fund Ltd.
• Aditya Birla Sunlife Pension Management Ltd.
• Tata Pension Management Pvt. Ltd.
• Max Life Pension Fund Management Ltd.
• Axis Pension Fund Management Ltd.
• DSP Pension Fund Managers Pvt. Ltd.

SBI Pension Fund, LIC Pension Fund, and UTI Retirement Solutions are the only fund managers who manage pension contributions of government employees under NPS.

Top Performing NPS Fund Managers – Central Government Scheme

As of January 2026, LIC PF Fund and UTI PF Fund generated the best returns of 9.01 % in the past three years. The next in line is recorded by the SBIPF returns generated recorded at 8.73% for the same period. 

Best Performing NPS Fund Managers – State Government Schemes

As of January 2026, LIC PF Fund generated the best returns of 7.52% in the past five years. The next in line is recorded by the UTIPF returns generated recorded at 7.48% for the same period. SBI Pension Fund also recorded the returns at 7.18% in the last five years.

Best Performing NPS Tier-I Returns 2026 – Scheme E (as of 31st January 2026)

Best Performing NPS Tier-I Returns 2026 – Scheme G (as of 31st January 2026)

Best Performing NPS Tier-I Returns 2026 – Scheme C (as of 31st January 2026)

Best Performing NPS Returns 2026 – Scheme APY (as of 31st January 2026)

NPS Pension Calculator

Cleartax NPS Calculator to easily estimate your monthly pension and tax benefits. Simply enter the key details of your NPS scheme, and the tool will calculate your expected lump sum amount and provisional pension upon maturity or retirement based on your monthly contributions. It’s quick and automated – get a clear picture of your future pension and total corpus.

While many invest in NPS to save on taxes, it’s important to understand the full scope of the program, especially since contributions are mandatory for central and state government employees. Before you start investing, ensure you’re aware of the withdrawal rules and any mandatory clauses involved to make the most of your NPS benefits.