| Speciality |
nps |
commission |
EPF |
equity mutual fund |
Insurance Linked Pension Plans (ULIP) |
| Type |
defined contribution |
defined contribution |
defined contribution |
market based |
Market Linked + Insurance Cover |
| investment period |
Up to age 60 (with limited withdrawal options) |
15 years (extendable in blocks of 5 years) |
Till retirement (depending on employment) |
Varies depending on fund |
Varies depending on plan |
| tax benefits |
Deduction under section 80ccd(1) (up to Rs 1.5 lakh) and additional deduction under section 80ccd(2) for salary (employer contribution) |
Deduction under Section 80C (up to Rs 1.5 lakh) |
Exemption from employer and employee contribution tax |
capital gains tax benefits |
Tax benefits on premiums paid (limited) |
| liquidity |
Limited withdrawal option before 60 years |
Locked in for 15 years (partial withdrawal allowed after specified lock-in) |
Closed till retirement (except in specific situations) |
Relatively high liquidity (depending on the fund) |
limited liquidity |
| risk profile |
High to High (depending on asset allocation) |
Less |
Less |
High to High (depending on the fund) |
medium to high |
| Return |
Market-linked (potential for higher returns) |
Fixed interest rate (announced by Govt. Quarterly) |
Fixed interest rate (announced by Govt. every quarter) |
Market-linked (potential for higher returns) |
Market linked returns + death benefit |
| management |
Professionally managed by Pension Fund Managers (PFMs) |
government managed |
government managed |
Investor managed or through financial advisor |
The insurance company manages the investment component |
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