NPS funds consistency check: what 10-year rolling returns reveal

The National Pension System’s (NPS) All Citizens model marks 17 years of growth, with AUM reaching ₹3.74 lakh crore as of March 2026. Across Tier I and Tier II, fund options have delivered strong returns since inception. A 10-year rolling return analysis shows equity funds generated average annualised returns of 13.5% (Tier I) and 13.4% (Tier II), slightly trailing the Nifty 100 TRI’s 13.8%. In debt categories, Fund C (corporate bonds) delivered 8.6%, outperforming

comparable mutual fund corporate bond fund categories. Fund G (government securities) returned 8.8%, ahead of gilt fund category averages of 7.5%.

Published on April 7, 2026