The National Pension System (NPS) allows subscribers to invest in equity (scheme E), fixed income (schemes C and G- corporate debt and G-sec) and alternative assets (scheme A). While the first two asset classes are well-known, this is not the case with scheme A. Tier-I, or retirement account, subscribers can make investment in this asset class, but it is capped at 5 percent as the scheme invests in certain high-risk options. For instance, alternative investment funds, which include SME and venture capital funds; real estate investment trusts (REITs); infrastructure investment trusts (InvITs); and Basel III Tier-I bonds. Therefore, it is better-suited for savvy investors with greater risk appetite.