The National Pension System (NPS), a well-known government-backed retirement plan, is a long-term investment option, but mutual funds have a track record of producing enormous wealth. NPS offers Tier I and Tier 2 accounts as its two available account types. Tier I is a mandatory retirement account, whereas Tier II is a voluntary account with four asset categories: equities, corporate bonds, government securities, and alternative investment funds. In contrast, one can invest in equities and bonds through a SIP through mutual funds.
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