Top 5 retirement mutual funds and what Rs 25,000 monthly SIP turns into in 5 years: Check details
Retirement funds actually are said to be useful for those nearing retirement years.
Retirement mutual funds also known as pension funds in India help one build the corpus for sunset years. Also, while invested across asset classes, the instrument aims to offer a steady income source after retirement. Herein investor has a choice of receiving the corpus built oiver the years as lump-sum or avail the same in fixed intervals via a Systematic Withdrawal Plan (SWP).
ICICI Prudential Retirement Fund- Pure Equity Plan
Rs 25,000 monthly SIP started 5 years ago in the scheme is now worth Rs 33,19,921, implying doubling of return in 5 years time.
HDFC Retirement Savings Fund- Pure Equity
The fund has given gains of 108 per cent and has turned Rs 15 lakh corpus into Rs 31,17,926.
ICICI Prudential Retirement Fund-Hybrid Aggressive Plan
Rs 25,000 monthly SIP in the fund has turned into Rs 28,28,750 in 5 years.
Nippon India Retirement Fund-Wealth Creation Scheme
The investment spread over years will now be worth Rs 28,34,915. The expense ratio of the fund is
Tata Retirement Savings Fund-Progressive Plan
The scheme has converted Rs 15 lakh into 26,49,236, meaning a gain of as much as 77 per cent to an investor.