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NPS & Portfolio Management Services

Two very different tools for two different needs: NPS for disciplined, low-cost retirement savings; PMS for larger portfolios that want active, individualised management.

National Pension System (NPS)

A government-backed retirement account that invests across equity, corporate bonds and government securities, with one of the lowest expense ratios of any market-linked product in India.

  • Additional ₹50,000 tax deduction under Section 80CCD(1B), over and above the ₹1.5 lakh 80C limit
  • Choose your own equity-debt mix (up to 75% equity under active choice), or let an auto-choice lifecycle fund glide it down as you age
  • Partial withdrawal allowed for specific needs (home purchase, medical treatment, children's education) after 3 years
  • At retirement, at least 40% of the corpus must go into an annuity for regular income; the rest can be withdrawn

Portfolio Management Services (PMS)

For portfolios that have outgrown a purely fund-of-funds approach — a dedicated portfolio manager builds and manages a bespoke equity portfolio in your own demat account.

  • Minimum investment mandated by SEBI: ₹50 lakh
  • Portfolio is held directly in your name, not pooled like a mutual fund
  • Suited to concentrated, high-conviction strategies across market caps or specific themes
  • Fee structures vary — fixed management fee, or a fixed fee plus profit share above a hurdle rate
Which one fits
FeatureNPSPMS
Entry amountFrom ₹500₹50 lakh minimum
Management stylePassive / lifecycle-basedActive, manager-driven
Primary purposeRetirement corpus + tax savingWealth growth for larger portfolios
LiquidityLocked till 60, limited partial withdrawalRelatively more flexible, manager-dependent

Figure out if NPS, PMS, or both make sense

Depends on your corpus size, timeline and how hands-on you want to be.

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