{"id":8211,"date":"2026-10-26T12:37:03","date_gmt":"2026-10-26T07:07:03","guid":{"rendered":"https:\/\/1finance.co.in\/1f-dashboard\/?post_type=blog&p=8211"},"modified":"2026-10-26T15:44:42","modified_gmt":"2026-10-26T10:14:42","slug":"aditya-birla-sun-life-pension-fund-nps-review","status":"publish","type":"blog","link":"https:\/\/1finance.co.in\/1f-dashboard\/blog\/aditya-birla-sun-life-pension-fund-nps-review\/","title":{"rendered":"Aditya Birla Sun Life Pension Fund NPS review: returns, portfolio and fees (2026)"},"content":{"rendered":"

Aditya Birla Sun Life Pension Management, part of the Aditya Birla Capital group, has run NPS money since 2017. Its regular Tier I E, C and G schemes hold about \u20b98,600 crore, with the largest share in government bonds.<\/p>\n

With about nine years of history, it doesn’t have a 10-year record yet. Over the periods it does have, it leads in government bonds, sits mid-table in equity and trails in corporate bonds.<\/p>\n

At a glance<\/h2>\n\n\n\n\n\n\n\n
Scheme (Tier I)<\/th>\nAssets<\/th>\n3-year return (rank)<\/th>\n5-year return (rank)<\/th>\n10-year return (rank)<\/th>\n<\/tr>\n<\/thead>\n
Scheme E (equity)<\/td>\n\u20b93,068 crore<\/td>\n8.02% (6 of 9)<\/td>\n8.45% (4 of 7)<\/td>\n\u2013<\/td>\n<\/tr>\n
Scheme C (corporate bonds)<\/td>\n\u20b92,061 crore<\/td>\n7.33% (8 of 9)<\/td>\n6.35% (6 of 7)<\/td>\n\u2013<\/td>\n<\/tr>\n
Scheme G (government bonds)<\/td>\n\u20b93,480 crore<\/td>\n6.54% (1 of 9)<\/td>\n5.98% (1 of 7)<\/td>\n\u2013<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Returns for Tier I as on 18 September 2026; assets from Value Research, October 2026. “\u2013” means the fund has not completed that period.<\/em><\/p>\n

Scheme G (government bonds)<\/h2>\n\n\n\n\n\n\n\n\n\n
Period<\/th>\nAditya Birla Sun Life<\/th>\nBenchmark<\/th>\nAverage of all funds<\/th>\nRank<\/th>\n<\/tr>\n<\/thead>\n
1 year<\/td>\n3.14%<\/td>\n3.43%<\/td>\n2.93%<\/td>\n2 of 10 (tied)<\/td>\n<\/tr>\n
3 years<\/td>\n6.54%<\/td>\n6.75%<\/td>\n6.25%<\/td>\n1 of 9<\/td>\n<\/tr>\n
5 years<\/td>\n5.98%<\/td>\n5.90%<\/td>\n5.73%<\/td>\n1 of 7<\/td>\n<\/tr>\n
7 years<\/td>\n6.73%<\/td>\n6.41%<\/td>\n6.55%<\/td>\n1 of 7<\/td>\n<\/tr>\n
Since inception<\/td>\n7.37%<\/td>\n\u2013<\/td>\n\u2013<\/td>\n\u2013<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

This is Aditya Birla Sun Life’s standout scheme. It ranks first over 3, 5 and 7 years, and joint second over 1 year. It is the only fund of the ten to beat the benchmark over 5 years.<\/p>\n

The portfolio is 88.87% sovereign, with 5.07% in AAA-rated bonds and the rest in cash and debt funds. Its largest holding is a 7.71% government bond maturing in 2066, at 8.81% of the fund, which makes it one of the less concentrated G portfolios.<\/p>\n

Scheme E (equity)<\/h2>\n\n\n\n\n\n\n\n\n\n
Period<\/th>\nAditya Birla Sun Life<\/th>\nBenchmark<\/th>\nAverage of all funds<\/th>\nRank<\/th>\n<\/tr>\n<\/thead>\n
1 year<\/td>\n-2.77%<\/td>\n-3.95%<\/td>\n-5.09%<\/td>\n1 of 10 (tied)<\/td>\n<\/tr>\n
3 years<\/td>\n8.02%<\/td>\n8.56%<\/td>\n8.10%<\/td>\n6 of 9<\/td>\n<\/tr>\n
5 years<\/td>\n8.45%<\/td>\n8.76%<\/td>\n8.44%<\/td>\n4 of 7<\/td>\n<\/tr>\n
7 years<\/td>\n13.22%<\/td>\n14.05%<\/td>\n13.42%<\/td>\n5 of 7<\/td>\n<\/tr>\n
Since inception<\/td>\n11.63%<\/td>\n\u2013<\/td>\n\u2013<\/td>\n\u2013<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

The equity scheme had a good past year, tying with ICICI Prudential for the best 1-year return (-2.77%, against the benchmark’s -3.95%). Over longer periods it is mid-table: sixth of nine over 3 years, fourth of seven over 5 years, fifth of seven over 7 years. It trailed the benchmark over each of those periods.<\/p>\n

The portfolio is 97.96% equity. At about \u20b93,070 crore, its Scheme E book is the smallest of the ten.<\/p>\n

Scheme C (corporate bonds)<\/h2>\n\n\n\n\n\n\n\n\n\n
Period<\/th>\nAditya Birla Sun Life<\/th>\nBenchmark<\/th>\nAverage of all funds<\/th>\nRank<\/th>\n<\/tr>\n<\/thead>\n
1 year<\/td>\n4.76%<\/td>\n4.90%<\/td>\n5.26%<\/td>\n10 of 10<\/td>\n<\/tr>\n
3 years<\/td>\n7.33%<\/td>\n7.05%<\/td>\n7.50%<\/td>\n8 of 9<\/td>\n<\/tr>\n
5 years<\/td>\n6.35%<\/td>\n6.19%<\/td>\n6.43%<\/td>\n6 of 7<\/td>\n<\/tr>\n
7 years<\/td>\n7.32%<\/td>\n7.48%<\/td>\n7.33%<\/td>\n4 of 7<\/td>\n<\/tr>\n
Since inception<\/td>\n8.00%<\/td>\n\u2013<\/td>\n\u2013<\/td>\n\u2013<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Aditya Birla Sun Life runs the safest corporate bond portfolio in NPS: 89.08% AAA-rated and only 6.68% AA-rated. Its largest holdings are bonds of Power Grid, ICICI Prudential and HDFC Bank.<\/p>\n

That caution costs return. The scheme ranks last over 1 year and eighth of nine over 3 years. It does better over longer periods, fourth of seven over 7 years, and beat the benchmark over 3 and 5 years.<\/p>\n

MSF schemes<\/h2>\n\n\n\n\n\n\n
Scheme (as listed by NPS Trust)<\/th>\nEquity range<\/th>\nAssets (\u20b9 crore)<\/th>\n<\/tr>\n<\/thead>\n
Secure Retirement Equity – I<\/td>\n90%-100%<\/td>\n13.91<\/td>\n<\/tr>\n
Secure Future – I<\/td>\n40%-65%<\/td>\n7.93<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

NPS Trust, as on 30 September 2026.<\/em><\/p>\n

Secure Retirement Equity holds 90% to 100% in equity. Secure Future is a balanced scheme with 40% to 65%. Together they hold \u20b922 crore. See the MSF comparison<\/a>.<\/p>\n

Fees<\/h2>\n

From 1 April 2026, the investment management fee on regular non-government NPS schemes is slab-based: 0.12% a year on the first \u20b925,000 crore of assets, then 0.08%, 0.06% and 0.04% on higher slabs. MSF schemes can charge up to 0.30%.<\/p>\n

Verdict<\/h2>\n