LIC Pension Fund Limited is India’s first pension fund. It was set up by Life Insurance Corporation (LIC) in November 2007. LIC is one of India’s three public sector pension fund managers and has a one-third share in all investments made through Central and State Government NPS. It is also open to the private sector as a fund manager.
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LIC NPS Tier 1 Account
| Returns/Scheme | Equity | Corporate Bonds | Government Bonds | Alternative Assets | Average Return* |
| 1 Year | 14.83% | 1.16% | -0.77% | 7.32% | 5.07% |
| 3 Years | 13.15% | 7.55% | 8.01% | NA | 9.57% |
| 5 Years | 14.52% | 9.55% | 10.26% | NA | 11.44% |
| Since Inception | 14.24% | 9.67% | 10.05% | 6.71% | 11.32% |
*Average return reflects the return earned on a scheme with equal allocation in Equity, Corporate Bonds and Government Bonds, with nothing invested in the Alternative Asset class considering its recent inclusion as a scheme category.
LIC NPS Tier 2 Account
| Returns/Scheme | Equity | Corporate Bonds | Government Bonds | Average Return* |
| 1 Year | 13.80% | 0.75% | 0.00% | 4.85% |
| 3 Years | 12.72% | 7.57% | 7.95% | 9.41% |
| 5 Years | 10.46% | 8.40% | 10.32% | 9.73% |
| Since Inception | 10.39% | 8.36% | 10.25% | 9.67% |
*Average return reflects the return earned on a scheme with equal allocation in Equity, Corporate Bonds and Government Bonds.
The Management
Priti Panwar
The LIC Pension Fund is currently being led by Ms. Priti Panwar as its Chief Executive Officer (CEO). In her 33-year-long career with LIC, she has worked across different areas of Life Insurance operations including Marketing, Pension & Group Schemes Policy Servicing, International Operations, etc.
Ashutosh Misra
Mr. Ashutosh Misra leads the LIC Pension Fund as its Chief Investment Officer (CIO).
Fund Managers
LIC Pension Fund is led by 4 Fund Managers namely Mr. Pradeep Bhat, Mr. Ashok Kumar Soni, Mr. B H Patil and Mr. P Binas.
Portfolio Details of LIC Pension Fund
LIC NPS Tier 1 Account
The value of total assets under management (AUM) for NPS Tier 1 is Rs. 1,100.56 crore.
| Details/Scheme | Equity | Corporate Bonds | Government Bonds | Alternative Assets |
| Scheme Inception Date | July 23, 2013 | October 13, 2016 | ||
| Asset Under Management (AUM) | Rs. 445 crore | Rs. 262 crore | Rs. 393 crore | Rs. 56 lakh |
| Top 5 Holdings |
RIL, ITC, HDFC Bank, ICICI Bank |
7.83% IRFC 2027, 7.27% IRFC SEC. BONDS 2027, 7.95% Sr. UNSEC. INFRA HDFC BANK LTD. 2026, 7.30% SEC. POWER GRID BONDS 2027 , 8.22% NABARD 2028 |
6.68% G-Sec 2031, 7.73% G-Sec 2034, 7.61% G-Sec 2030, 9.23% G-Sec 2043, 7.88% G-Sec 2030 |
8.85% HDFC BANK LTD. BASEL III PERP BONDS 2022, LIC MF LIQUID FUND DIRECT PLAN, OTHER CURRENT ASSETS |
| Weightage of Top 5 Holdings | 26.54% | 12.16% | 50.83% | 22.53% |
| Top 3 Sectors | Banking, Automobiles and Oil & Gas | Finance, Banking, Power | Government | Banking, Liquid Mutual Fund Units, Cash and Cash equivalents |
LIC NPS Tier 2 Account
The value of total assets under management (AUM) for NPS Tier 2 is Rs. 29 crore.
| Details/Scheme | Equity | Corporate Bonds |
Government Bonds |
| Scheme Inception Date | August 12, 2013 | ||
| Asset Under Management (AUM) | Rs. 11 crore | Rs. 7 crore | Rs. 11 crore |
| Top 5 Holdings |
RIL, ITC, ICICI Bank, HDFC Bank, L&T |
7.95% Sr. Infra HDFC Bank 2026, 8.88% USEC IFC 2030, 7.22% IREDA USEC 2027, 8.14% USEC NPC, 7.83% IRFC 2027 |
6.68% G-Sec 2031, 8.17% GSec 2044, 7.73% G-Sec 2034 7.61% G-Sec 2030, 8.24% GSEC 2033 |
| Weightage of Top 5 Holdings | 27.30% | 20.01% | 65.58% |
| Top 3 Sectors | Banking, Automobiles, Oil & Gas | Finance, Banking, Power | Government |
*All above details are as on September 25, 2018.