The present study endeavours to evaluate the performance of various schemes of pension funds sponsored by the UTI MF. UTI Mutual Fund is the first mutual fund player in India that introduced the pension fund namely, UTI Retirement Benefit Fund in 1994 with two variants i.e, (i) UTI Retirement Benefit Fund- Regular and (ii) UTI Retirement Benefit Fund- Direct. The study covers a period of 10 years from 2013-14 to 2022-23. The fund performance has been measured in terms of average return, standard deviation, and beta values. The Treynor index has also been calculated in this study to find out the risk-return associated with it. The returns of the schemes have also been compared with the benchmark index. The study revealed that, the UTI Retirement Benefit Fund- Direct scheme has performed better than the UTI Retirement Benefit Fund- Regular over the period. It was also found that the benchmark index performance was better than both the above two schemes.