LIC Pension Fund Ltd , approved by PFRDA to manage Pension Funds of Central Govt. and State Govt. employees under NPS was incorporated on 21st November 2007. LIC Pension Fund Ltd. has successfully completed one year since its incorporation on 21st November, 2008.
The Company has an eventful period of operation from April, 2008 onwards. Since then the Company started Investing Funds in the market. In addition to successful investment operation, the Company has been able to implement all the regulatory requirements as per guidelines of PFRDA as well as the agreement between LIC Pension Fund Ltd. and NPS Trust. It has put in place Investment Management Policy, Risk Management Policy etc. During the year the Company has completed 4 Board Meetings, published Annual Accounts etc.
The more important is that the Company has released its first Annual Report (2007-08) which also happens to be the first such report by any Pension Fund Management Company in India approved by PFRDA under NPS.
The Chief Executive Officer of LIC Pension Fund Ltd., Dr. H. Sadhak handed over the copy of first Annual Report of LIC Pension Fund Ltd. to the Chairman of PFRDA, Shri D. Swarup and also the Chairman of NPS Trust, Shri Yogendra Narain, during the first review meeting of Pension Fund Managers held on 21.11.2008 at New Delhi.
