PFM Performance
Compare how India’s ten NPS Pension Fund Managers have delivered across the Equity, Corporate-debt and Government-securities schemes — with clear rankings, an interactive returns chart and the framework we use to judge them.
Why compare Pension Fund Managers?
Every PFM invests your NPS money under the same PFRDA rules and within the same asset classes — yet their returns are not identical. Fund-management skill, portfolio construction and consistency across market cycles create a real gap between the best and the rest over the long run.
Returns differ by manager
Across the same scheme, the top PFM can out-earn the lowest by a meaningful margin over 5–10 years — compounding into a large corpus difference.
Consistency beats one hot year
We weigh 5-year rolling returns and benchmark outperformance so a manager that performs steadily ranks above one with a single lucky year.
You can switch PFM
NPS lets you change your Pension Fund Manager. Knowing who leads each scheme helps you choose — or move — with confidence.
What this dashboard contains
A complete, data-backed view of pension-fund-manager performance — unlocked once you register.
Interactive returns chart
Pick a subscriber type and scheme to compare every PFM’s annualized return side by side.
Scheme-wise rankings
Top performers in Scheme E (Equity), Scheme C (Corporate debt) and Scheme G (Government securities).
Overall PFM ranking
A combined leaderboard across all major schemes, weighing long-term consistency.
Evaluation framework
The exact criteria and weights we use to score and rank each Pension Fund Manager.
PFM performance analysis
The full interactive chart, rankings and framework are available to registered members.
Interactive PFM comparison
Select a subscriber type, then a scheme, to compare the annualized returns of every PFM offering it.
Overall PFM ranking
Across all major schemes, weighing Scheme E impact, debt & government-securities performance and rolling-return consistency.
| Rank | Pension Fund Manager | Why it ranks here |
|---|---|---|
| 1 | HDFC Pension Management | Top or near-top across Equity and Corporate debt, with strong consistency. |
| 2 | ICICI Prudential Pension Fund | Consistently high Equity returns and solid all-round record. |
| 3 | LIC Pension Fund | Clear leader in Government securities, dependable across cycles. |
| 4 | SBI Pension Funds | Very large AUM with strong debt & government-securities performance — a close fourth. |
Scheme-wise leaders
Top three PFMs in each core asset class, by average 5-year rolling return.
Scheme E · Equity
Scheme C · Corporate debt
Scheme G · Government securities
How we evaluate a PFM
Our composite score blends long-term returns with consistency and stability rather than a single period.
| Criterion | Weight | What it measures |
|---|---|---|
| 10-year CAGR | 40% | Long-term wealth creation across multiple market cycles. |
| 5-year rolling return | 30% | Consistency of performance over different holding periods. |
| Benchmark outperformance | 15% | How often the PFM beats its benchmark — a sign of skill. |
| 3-year CAGR | 10% | Recent performance trend and current competitiveness. |
| AUM & track record | 5% | Operational stability, experience and investor confidence. |
Rankings use average 5-year rolling returns and long-term comparative data (source: PFRDA disclosures and ETMoney PFM analysis). The interactive chart above uses the latest annualized-return dataset. Figures are indicative and past performance does not guarantee future returns.