7th Pay Commission: NPS funds earned more than PF in last six months
In the past six months, their retirement savings have earned more than what the Provident Fund offers in a full year.
Zee Media Bureau
New Delhi: The central government employees have a lot to cheer about. Not only will they be receiving hike in their salaries, from August onwards, as part of the Seventh Pay Commission bonanza, the investment made in NPS funds have also issued rich dividends. All those who have invested into NPS funds have received more returns in last six months alone than what the Provident Fund usually offers in complete year. In the past six months, their retirement savings have earned more than what the Provident Fund offers in a full year.
As per a report in Economic Times, central government employees have earned 11.43 percent in the last three years and 10.5 percent in the past five.
In addition, government bond funds of the NPS have rose and so the the equity funds have benefited from the recent rally in the stock market.
Rate of interest on Small Savings Schemes for July-October quarter of FY 2016-17