# Retirement funds

Investments locked in for five years or until retirement age, whichever comes first.

Full page: https://discovermf.com/categories/retirement
Figures as of 4 Nov 2026, from DiscoverMF. Information, not investment advice. Past returns do not indicate future returns. Mutual fund investments are subject to market risks; read all scheme-related documents carefully.

29 funds managing ₹32,126 cr. Category averages: -0.4% over one year, +8.9% a year over three years; typical expense ratio 2.17%.

## All funds, by three-year return

| Fund | 1 year | 3 years (a year) | 5 years (a year) | Volatility | Expense ratio | Fund size |
| --- | --- | --- | --- | --- | --- | --- |
| [ICICI Prudential Retirement Fund Pure Equity Plan](https://discovermf.com/funds/icici-prudential-retirement-fund-pure-equity-plan-146346.md) | +0.5% | +18.5% | +16.2% | 14.8% | 2.16% | ₹2,144 cr |
| [ICICI Prudential Retirement Fund Hybrid Aggressive Plan](https://discovermf.com/funds/icici-prudential-retirement-fund-hybrid-aggressive-plan-146722.md) | -0.6% | +15.5% | +12.0% | 12.9% | 2.49% | ₹1,248 cr |
| [Aditya Birla Sun Life Retirement Fund-The 30s Plan](https://discovermf.com/funds/aditya-birla-sun-life-retirement-fund-the-30s-plan-146577.md) | +8.8% | +15.4% | +10.4% | 15.0% | 2.62% | ₹465 cr |
| [Union Retirement Fund](https://discovermf.com/funds/union-retirement-fund-150552.md) | +0.3% | +11.6% | — | 15.2% | 2.67% | ₹209 cr |
| [Axis Retirement Fund - Dynamic Plan](https://discovermf.com/funds/axis-retirement-fund-dynamic-plan-147828.md) | -3.1% | +11.0% | +6.1% | 12.5% | 2.56% | ₹271 cr |
| [Tata Retirement Savings Fund-Progressive Plan](https://discovermf.com/funds/tata-retirement-savings-fund-progressive-plan-115942.md) | +1.9% | +11.0% | +8.4% | 14.9% | 2.21% | ₹2,112 cr |
| [Tata Retirement Savings Fund-Moderate Plan](https://discovermf.com/funds/tata-retirement-savings-fund-moderate-plan-115943.md) | +1.8% | +10.5% | +8.4% | 12.9% | 2.17% | ₹2,118 cr |
| [Axis Retirement Fund - Aggressive Plan](https://discovermf.com/funds/axis-retirement-fund-aggressive-plan-147823.md) | -3.2% | +10.1% | +5.6% | 11.4% | 2.51% | ₹671 cr |
| [Aditya Birla Sun Life Retirement Fund-The 40s Plan](https://discovermf.com/funds/aditya-birla-sun-life-retirement-fund-the-40s-plan-146929.md) | -1.9% | +9.9% | +7.4% | 10.8% | 2.42% | ₹110 cr |
| [Nippon India Retirement Fund - Wealth Creation Scheme](https://discovermf.com/funds/nippon-india-retirement-fund-wealth-creation-scheme-133565.md) | -5.3% | +9.8% | +8.7% | 15.0% | 2.23% | ₹2,940 cr |
| [HDFC Retirement Fund - Equity Plan](https://discovermf.com/funds/hdfc-retirement-fund-equity-plan-136090.md) | -6.4% | +9.0% | +10.4% | 12.9% | 1.87% | ₹6,784 cr |
| [SBI Retirement Benefit Fund - Aggressive Hybrid Plan](https://discovermf.com/funds/sbi-retirement-benefit-fund-aggressive-hybrid-plan-148695.md) | +0.0% | +8.6% | +8.9% | 12.5% | 2.14% | ₹1,585 cr |
| [ICICI Prudential Retirement Fund Hybrid Conservative Plan](https://discovermf.com/funds/icici-prudential-retirement-fund-hybrid-conservative-plan-146717.md) | +2.5% | +8.2% | +7.3% | 4.7% | 2.23% | ₹94.8 cr |
| [UTI Retirement Fund](https://discovermf.com/funds/uti-retirement-fund-100682.md) | -0.5% | +8.2% | +7.7% | 6.1% | 1.63% | ₹4,596 cr |
| [SBI Retirement Benefit Fund - Aggressive Plan](https://discovermf.com/funds/sbi-retirement-benefit-fund-aggressive-plan-148698.md) | -1.7% | +8.2% | +9.0% | 14.5% | 2.08% | ₹3,103 cr |
| [Bandhan Retirement Fund](https://discovermf.com/funds/bandhan-retirement-fund-152103.md) | -1.9% | +8.1% | — | 9.1% | 2.70% | ₹179 cr |
| [Franklin India Retirement Fund](https://discovermf.com/funds/franklin-india-retirement-fund-100536.md) | -2.3% | +6.9% | +6.0% | 5.5% | 2.25% | ₹477 cr |
| [SBI Retirement Benefit Fund - Conservative Hybrid Plan](https://discovermf.com/funds/sbi-retirement-benefit-fund-conservative-hybrid-plan-148692.md) | +0.9% | +6.6% | +6.9% | 6.6% | 1.76% | ₹247 cr |
| [Aditya Birla Sun Life Retirement Fund-The 50s Plan](https://discovermf.com/funds/aditya-birla-sun-life-retirement-fund-the-50s-plan-146938.md) | +1.3% | +6.6% | +5.5% | 4.1% | 1.96% | ₹26.6 cr |
| [HDFC Retirement Fund - Hybrid-Equity Plan](https://discovermf.com/funds/hdfc-retirement-fund-hybrid-equity-plan-136463.md) | -6.8% | +6.6% | +7.7% | 10.2% | 2.13% | ₹1,534 cr |
| [Axis Retirement Fund - Conservative Plan](https://discovermf.com/funds/axis-retirement-fund-conservative-plan-147832.md) | -1.6% | +6.5% | +4.6% | 6.3% | 2.17% | ₹43.6 cr |
| [Tata Retirement Savings Fund-Conservative Plan](https://discovermf.com/funds/tata-retirement-savings-fund-conservative-plan-115944.md) | +1.8% | +6.4% | +5.3% | 5.3% | 2.17% | ₹163 cr |
| [SBI Retirement Benefit Fund - Conservative Plan](https://discovermf.com/funds/sbi-retirement-benefit-fund-conservative-plan-148696.md) | +1.7% | +6.2% | +6.3% | 4.4% | 1.45% | ₹135 cr |
| [Nippon India Retirement Fund - Income Generation Scheme](https://discovermf.com/funds/nippon-india-retirement-fund-income-generation-scheme-133572.md) | -0.4% | +5.8% | +5.0% | 5.6% | 2.11% | ₹138 cr |
| [HDFC Retirement Fund - Hybrid-Debt Plan](https://discovermf.com/funds/hdfc-retirement-fund-hybrid-debt-plan-136466.md) | -0.8% | +5.7% | +5.8% | 4.1% | 2.34% | ₹141 cr |
| [ICICI Prudential Retirement Fund Pure Debt Plan](https://discovermf.com/funds/icici-prudential-retirement-fund-pure-debt-plan-146726.md) | +2.9% | +5.5% | +4.9% | 1.8% | 2.14% | ₹78.4 cr |
| [Aditya Birla Sun Life Retirement Fund-The 50s Plus-Debt Plan](https://discovermf.com/funds/aditya-birla-sun-life-retirement-fund-the-50s-plus-debt-plan-146941.md) | +2.1% | +4.6% | +3.8% | 1.5% | 2.05% | ₹13.1 cr |
| [Baroda BNP Paribas Retirement Fund](https://discovermf.com/funds/baroda-bnp-paribas-retirement-fund-152625.md) | -0.1% | — | — | 11.5% | 2.55% | ₹394 cr |
| [PGIM India Retirement Fund](https://discovermf.com/funds/pgim-india-retirement-fund-152538.md) | -0.5% | — | — | 13.9% | 2.59% | ₹105 cr |

## Questions

### How many Retirement funds are there?

29 funds, managing ₹32,126 cr between them as of 4 Nov 2026. The largest is HDFC Retirement Fund - Equity Plan, at ₹6,784 cr.

### What return have Retirement funds given?

The average Retirement fund returned -0.4% over the last year, +8.9% a year over three years, +7.5% a year over five years. Over the last year the funds ranged from -6.8% to +8.8%. Past returns do not tell you future returns.

### Which Retirement fund has the lowest expense ratio?

SBI Retirement Benefit Fund - Conservative Plan, at 1.45% a year, against 2.17% for the average fund in the category. The expense ratio is taken out of the fund every day, so every return shown is already after it.

### Which Retirement fund has the highest three-year return?

ICICI Prudential Retirement Fund Pure Equity Plan, at +18.5% a year over the last three years, against +8.9% for the average fund. Past returns do not tell you future returns.

### How risky are Retirement funds?

Their volatility over the last year averaged 10.8%: the higher it is, the more the price swings from day to day. 17 of 29 carry the riskometer level Very High, on SEBI's six-step scale from Low to Very High.