NAV as on 20-Sep-2017 : LIC Pension Fund Scheme Central Govt.- 25.3611     LIC Pension Fund SG Scheme State Govt. -22.6788     NPS LITE -Govt.pattern-20.8545     LIC Pension Fund Scheme Corporate CG-16.7257    LIC PENSION FUND SCHEME E - TIER I- 17.6262    LIC PENSION FUND SCHEME C - TIER I- 15.8632    LIC PENSION FUND SCHEME G - TIER I-16.4534    LIC PENSION FUND SCHEME A - TIER I-10.5666    LIC PENSION FUND SCHEME E - TIER II- 14.8162    LIC PENSION FUND SCHEME C - TIER II -14.9149     LIC PENSION FUND SCHEME G - TIER II-16.3959    LIC PENSION FUND SCHEME A - TIER II-10    LIC PENSION FUND ATAL PENSION YOJANA SCHEME- 12.8795    
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Formation of the Company

The Government of India has introduced the New Pension System (NPS), with effect from 1st January 2004. Pension Fund Regulatory and Development Authority (PFRDA) through a process of competitive bidding, has appointed Life Insurance Corporation (LIC) , State Bank of India (SBI), UTI Asset Management Company (UTI-AMC) and as Pension Fund sponsors under the NPS.

Consequent upon the selection as Sponsor , Life Insurance Corporation of India has formed LIC Pension Fund Limited LIC Pension Fund has been incorporated as a Public Limited Company on 21.11.07 by the Registrar of Companies, Maharashtra, Mumbai under Part IXA of the Companies Act, 1956 (No.1 of 1956) on 21st November, 2007. The Authorised Capital of the Company is Rs 25 Crores and Paid Up Capital of the Company is Rs 15 Crores. The Registrar of Companies Maharashtra, Mumbai has issued Certificate of Commencement of Business to LIC Pension Fund on 28th January, 2008. LIC Pension Fund is the first Pension Fund Company in India to be incorporated and to receive commencement of business certificate.

Board of Directors :
Shri V. K. SHARMA :
Shri Vijay Kumar Sharma took charge as Chairman, Life Insurance Corporation of India on 16th December, 2016. Prior to his taking over as the LIC Chairman, he was Managing Director, LIC from 1st November, 2013. Earlier he has been Managing Director & Chief Executive Officer, LIC Housing Finance Limited (LIC HFL), a premiere housing finance provider in the country with loan portfolio exceeding Rs.83,000 crore.Shri V. K. Sharma joined Life Insurance Corporation of India as Direct Recruit Officer in 1981 and has grown with the Company since then. During his stint as Senior Divisional Manager Karnal, a rural Division had catapulted to Number One position in the country in premium income ahead of all other metro centers. As Executive Director of Pension & Group Schemes, he pioneered the launch of various prestigious pension schemes in the country. As Zonal Manager in-charge of Southern Zone, he successfully turned around its operations and put it on growth trajectory making it No. 1 Zone in 2010. With his focused leadership proficient in invigorating staff performance, reorganizing teams and developing talent, LIC HFL maintained its growth momentum despite volatile markets and adverse macro-economic conditions. During his tenure LIC HFL was adjudged as “Best Housing Finance Company 2011” by CNBC-TV 18. His key areas of expertise have been Business Strategy, Business Development, Processes and Systems, Leadership Development, Branding and Product Development and Risk Mitigation and Compliance. A Strategic leader recognized for making sweeping improvements to efficiency, product development and marketing and identifying areas of opportunity he is acclaimed as a “Crisis Manager” for stabilizing operations and leading turnaround growth strategies in uniquely challenging situations. He has been an inspirational leader who utilizes negotiation skills gained over 30 years of extensive experience in insurance and financial sectors and strongly connects to the grass root levels, believes in “bottom-up approach” and has ability to see the Big Picture and translate to reality. Shri V. K. Sharma is tech savvy and an avid reader.
Shri Hemant Bhargava:
Shri Hemant Bhargava, Managing Director of Life Insurance Corporation of India, joined LIC as a Direct Recruit Officer in the year 1981. He did his Masters in Economics and also studied in Jamnalal Bajaj Institute of Management Studies in Masters in Financial Management. Adding feather to his cap, he has done courses from IIM, Lucknow and ISB, Hyderabad.
During his rich tenure of 35 years in LIC, he has worked across various departments in diverse set of roles in both India and abroad, building multidimensional experience, in different capacities, especially in Marketing, International Operations, Joint Ventures, Subsidiaries, etc. He had the privilege of heading two big zones of the Corporation covering more than 15 states of our country, which not only gave him exposure of leading the zone but also helped him to have profound knowledge in Marketing, Finance, Personnel, Pension & Group Scheme, Alternate channels, Estate and Office Services, HRD, IT etc. This rich experience and knowledge gained through the years has facilitated a smooth transition into the role of Managing Director of a gigantic organization and pride of India – Life Insurance Corporation of India. He took charge as Managing Director of LIC of India in February, 2017 and has been responsible for more than a dozen departments, including Investment(Monitoring & Accounting), Investment (Risk Management and Research), Corporate Planning/New Projects, Marketing (SBA), Personnel, New Business and Reinsurance, Health Insurance - to name a few. A true leader – he was instrumental in:
Completing the design and setting up a separate Micro Insurance vertical which was LIC’s first comprehensive enterprise-wide initiative in financial inclusion space.
Setting up new joint venture in collaboration with Banking industry, founding LIC Cards Services Limited and launching “LIC Card” in 2009.
Setting up newly formed SBU- international Operations to manage LIC’s operation in about 11 countries and also instrumental in finalizing the first MOU for LIC to form a composite insurance company in the Kingdom of Saudi Arabia.
Founded the “Indian Business Group” in Mauritius for promoting the business interests of companies of Indian origin with the High Commissioner of India being the Patron
An avid reader, he is also interested in Philately, Numismatics, Gardening, Swimming, Rowing and Table Tennis.
Shri Jagdish Capoor:
He was former Chairman of HDFC Bank, UTI and BSE Ltd. and also former Dy. Governor, Reserve Bank of India. He has also been on the Board of many Banks and Companies namely SBI, Bank of Baroda, NHB, IDFC etc. Currently, he is also Director on the Board of Indian Hotels Co. Ltd., Asset Care & Reconstruction Enterprises Ltd., Manappuram General Finance & Leasing Ltd., Alankit Assignment Ltd. etc.
Shri M. N. Singh, IPS :
He joined IPS in 1965 and retired as Commissioner of Police Mumbai in the rank of Director General of Police. He is Co- promoter and Chairman of Invent Asset Securitisation Reconstruction Pvt. Ltd. and Director on the Board of India Infoline Investment Services Ltd.
Smt Bhavna G. Doshi:
She is a practising Chartered Accountant associated with national and international consulting firms for more than 25 years. She has extensive experience in accounting and corporate matters. Currently, she is also Director on the Board of Peninsula Land Ltd and SEAMAC Ltd
Shri Som Deo Chaturvedi:
Shri Som Deo Chaturvedi is a post graduate in Economics from University of Rajasthan, Jaipur He was an IRTS Officer, Government of India. He has handled important portfolio at Department of Telecommunication Government of India. He was Secretary, Telecom Commission, and Government of India. He was also Chairman of the Group constituted for suggesting mechanism for solving of disputes of Telecom services provider after Privatization. At present, he is President of SDPR Private Limited.

Shri S. Bandyopadhyay, Chief Executive Officer:
Shri S. Bandyopadhyay has a bachelor degree from Kolkata University in Chemistry and is Associate Member of the Institute of Chartered Accountants of India since 1983. He joined LIC of India in the year 1985 as a Direct Recruit Officer. In the last 28 years, Shri Bandyopadhyay has handled both administrative as well as marketing assignments and headed two Divisional Offices for 5 years. For the last 8 years, he was part of the centralized Investment Department of LIC and handled diverse responsibilities including treasury, fixed income & corporate bond investments, equity market investments and back office functions, review & restructuring issues, company matters etc.



Our Team:

1. Shri S. Bandyopadhyay, MD & CEO
2. Shri P. Dwivedi (GM)
3. Smt Anjali Desai (JGM)
4. Shri Rajneesh Khanna (CRO)
5. Shri Ashutosh Misra (CIO)
6. Shri Pradeep Bhat (FM)
7. Shri Ashok Kumar Soni (FM)
8. Shri B H Patil (FM)
9. Shri Avinash Abhyankar (Company Secretary)

Member of Audit Committee:
1. SHRI JAGDISH CAPOOR, CHAIRMAN
2. SHRI V. K. SHARMA, MEMBER
3. SHRI M. N. SINGH, MEMBER


Member of Investment Management Committee:
1. SHRI JAGDESH CAPOOR, CHAIRMAN
2. SHRI M. N. SINGH, MEMBER
3. SHRI S. BANDYOPADHYAY, MEMBER
4. SHRI ASHUTOSH MISRA, MEMBER


Member of Risk Management Committee:
1. SMT. BHAVNA DOSHI, CHAIRPERSON
2. SHRI S. BANDYOPADHYAY, MEMBER
3. SHRI RAJNEESH KHANNA
4. SHRI ASHUTOSH MISRA


Members of Nomination and Remuneration Committee:
1. SHRI M. N. SINGH, CHAIRMAN
2. SHRI JAGDESH CAPOOR, MEMBER
3. SMT. BHAVNA DOSHI, MEMBER

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