To enhance your returns you will have to invest in equities. However, there are some factors that you need to keep in mind. In the last couple of years, the equity has performed well which is why the balanced fund returns have been good. This might not always be the case, as equity is volatile. And, if the market doesn't perform well, then the value of your asset will go down.

For your regular income, post-retirement, you should depend on fixed income avenues like SCSS or fixed income funds. This should be in such a way that your 1 to 3 years income should be derived from these options. The money that you require in future will have to perform 1.5 to 2% more than inflation. So, such a corpus should be kept in conservative equity funds like the one you hold.