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 and is a wholly owned subsidiary of Life Insurance Corporation of India (LIC), the country's premier insurance organization. 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 50 Crores and Paid Up Capital of the Company is Rs 50 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 from PFRDA.
Board of Directors :
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Shri Siddhartha Mohanty :
[Chairman] |
Siddhartha Mohanty, took charge as Chairperson, LIC of India in April 2023. Prior to that he held the post of Managing Director of LIC of India. A Post graduate with a Masters Degree in Arts in Political Science, he has also got his Bachelor’s Degree in Law and a Post Graduate Certification in Business Management.
He joined LIC, as a Direct Recruit Officer in 1985. During this tenure of more than three and a half decades,he has worked in different capacities and various streams of LIC and has gained rich experience in life insurance Marketing, HR, Legal and Investments. Amongst the positions he held, most notable were Sr Divisional Manager In charge, Regional Manager of Marketing Vertical , Chief of Investment: Monitoring & Accounting , Executive Director Legal and CEO of LIC Housing Finance Ltd , a listed Associate Company of LIC of India and one of the largest Housing Finance Company in India..
His innovative style of working, strong analytical ability, strategic thinking and capability to arrive at simple solutions for complex problems have resulted in success in each of his assignments. He has broad understanding of the landscape of the industry which helps him design unique strategies for achieving desired goals. He firmly believes that continued digital transformation is the way ahead for any organisation.
He also Chairs the Boards of domestic associate/subsidiaries of LIC of India viz. LIC Housing Finance Ltd, LIC Mutual Fund AMC, LIC Pension Fund Ltd , LIC Cards Services Ltd, as well as the Joint ventures on foreign lands viz. LIC (International) B.S.C.(c), Bahrain, LIC Lanka Ltd, and LIC Nepal Ltd.
He is also a Director on the Board of the Kenindia Assurance Ltd, which is a Life and Non life Insurance Company, based at Kenya.
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Shri Gopal Singh Gusain :
[Independent Director] |
Gopal Singh Gusain joined Board of Directors on .He holds degree in Science with distinction in Mathematics from University of Garhwal, Uttarakhand. He is an associate member of Institute of Cost and Management Accountants of India, Indian Institute of Bankers and holds diploma in Treasury, Investment and Risk Management.
A career banker with Punjab National Bank, he retired from Union Bank of India as Executive Director. He has held various positions such as Group Chief Risk Officer, Group Chief Compliance officer, Chief Credit officer. He has also worked as Chief Executive of Bank for Hong Kong operations. As Executive Director, he was responsible for Corporate Credit, Treasury and International operations. He served as active leader to ensure smooth amalgamation of two banks into Union Bank of India.
He has been a visiting faculty to ICMA on advanced accountancy and guest faculty to several colleges for MBA courses.
He has attended several training programmes on risk, credit and banking in India and overseas.
He has served on Board of ARCIL, Experian India,Union Mutual Fund, Union Bank of India.
He has active interest in teaching and Hiking. |
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Shri Debasish Mohanty :
[Independent Director] |
Shri Debasish Mohanty has more than three and half decades of valuable experience in Indian Financial Sector.
At present, he advises L&T MF on various strategies on retailisation and penetration. He has superannuated in 2021 as the National Head of Sales and President at UTI AMC. He has a deep understanding of products, consumer insights and distribution possibilities in financial services.
Shri Mohanty is a post graduate and M.Phil in Economics from the Centre of Economic Studies and Planning, JNU, a Certified Associate of Indian Institute of Bankers (CAIIB). He is a Certified Wealth Manager (CWM) from American Academy of Financial Management (AAFM India). He is also a Certified Financial Planner (CFP) holder from Financial Planning Standards Board (FPSB). He has undergone Advanced Management programmes on strategy at Kellogg's Business School, Chicago, USA in addition to other certification programmes at ISB Hyderabad, and IIM Ahmedabad. He has been members of various working committees of AMFI including the ARN Committee, Common Platform Committee and Operation & Compliance Committee.
In past, he had headed other functions at UTI such as; Policy Research, Business Transformation Projects, Corporate Communication and Marketing. He has also served as UTI’s nominee Director in Shree Rama Multitech, a Ahmedabad based company in packaging sector. |
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Smt. Sashikala Muralidharan :
[Independent Director] |
| Mrs. Sashikala, a Graduate in commerce from University of Madras, ICWAI Intermediate and an Associate of Insurance Institute of India, began her career in the insurance industry in The New India Assurance Co. Ltd in December 1983. She had served The New India Assurance Co. Ltd for nearly 27 years in several executive and leadership positions at field offices and Corporate Office, Mumbai. Her experience spans finance, Information Technology, customer relationship and driving growth in retail, broker and bancassurance marketing channels. She had the privilege of being associated with the Business process reengineering initiatives at various field offices of New India Assurance Co. Ltd. It had also been her privilege to be associated with several path breaking IT initiatives of the Company during her stint at corporate office, setting up of the MPLS network across over 1000 offices, introducing data warehouse, portals and web based applications, core insurance project etc. On her elevation as DGM in August 2010, Mrs. Sashikala had the privilege of serving United India Insurance Co. Ltd at the Corporate office, ushering in a slew of customer centric initiatives. The consolidation of the bouquet of online services was instrumental in enhancing the Company brand recall, culminating in several accolades in the platinum jubilee Year. The Company also made significant progress in its implementation of the end to end CORE Insurance Solution, the Human Capital Management system, Information Security Management System. Mrs. Sashikala was elevated and posted in National Insurance Co. Ltd in May 2014, where she served as the CISO, CFO and led the IT team in the implementation of the end to end, tightly integrated, ERP comprising of core insurance solution, CRM, DMS, Financials, HRMS etc. On elevation as Director & General Manager, was posted at General Insurance Corporation Of India, Mumbai. She served as the CFO, while heading departments of Enterprise Risk Management, IT, Reinsurance. She has served as a member of Stakeholder Committee, Investment Committee, CSR Committee, ERM Committee of the Board. She was entrusted with the function of Joint in charge arrangement to post of Chairman cum Managing Director of GIC Re with effect from 8th August 2019 to the date of superannuation. She has served as the Council Member of the Insurance Institute of India for 18-19. She has served as Member of the Audit Review Committee, Insurance Institute of India. Having served as Director on the Board of IDBI Trusteeship Services Ltd, she was a member of the HR and Remuneration Committee, Audit Committee, Investment Committee and CSR Committee. She also had the privilege in serving the Insurance Information Bureau of India, an organization promoted by IRDA, on various committees from time to time. She has served as Director on the Board of GIC Housing Finance Ltd, and was member of Audit Committee, Stakeholders Relationship Committee, and Nomination and Remuneration Committee. Smt. Sashikala Muralidharan was conferred the DSIJ’s 2019 CFO Award in Best Women CFO Category. |
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Shri Kishor Kharat :
[Independent Director] |
(Former MD & CEO, Indian Bank, IDBI Bank)
B.Com(Hons.), LLB(I), CAIIB, MBA,
Diploma in Computers applications in banking.
An acclaimed Banker, With 41 years of rich, professional banking experience (out of which 7 years in foreign countries i.e. United Arab Emirates (UAE) and Trinidad & Tobago, (WestIndies) with Board level experience of about 14 organisations and more than 6 years as Whole Time Director, including as MD &CEO of 3 banks (two prime Public Sector Banks and one foreign subsidiary of large PSB).
Recent assignments:-
Managing Director & CEO of Indian Bank - in a short span of just 16 months guided the Bank to emerge as India’s Best Bank.
Managing Director & CEO of IDBI Bank– one of best Industrial Development Bank which has contributed a lot in Industrial and Infrastructure development of India.
Also served on various boards:-
• Chairman, IDBI Capital Markets & Securities Ltd.
• Chairman, IDBI Trusteeship Services Ltd.
• Chairman, IDBI Asset Management Limited.
• Chairman, IDBI Intech Limited.
• Chairman & Executive Trustee, Stressed Asset Stabilization Fund (SASF).
• Director, IDBI Federal Life Insurance Co. Ltd.
• Chairman, Corp Debt Restructuring (CDR) –Executive Group.
• Director, Association of Development Financing Institutions in Asia Pacific (ADFIAP) Manila Philippine’s.
• Director, EXIM Bank of India.
• President, Governing Council, Entrepreneurship Devp Institute of India.
• Executive Director at Union Bank of India.
• MD & CEO Bank of Baroda (Trinand & Tabago) Ltd., West Indies.
Other previous assignments:-
• Member of Advisory Board of Insurance Regulatory and Development Authority (IRDAI).
• Member on RBI Sub-committee on Financial Inclusion.
Present engagements:-
• Advisor to “24 Exchange” a joint venture of Standard Chartered Bank, established in USA as a Forex Derivative Exchange platform.
• Advisor to Swedish Organisations for their India related business.
• Board member of Alt Indices, a European financial asset benchmarking company which is in the process of establishing business in India.
• Principal Partner of Amro Bucons LLP, a Corporate advisory firm.
Vast exposure to vital domains that include:-
● Strategic & Tactical Planning
● Business Development
● Profit Centre Operations
● FOREX Management
● Legal Affairs/ Statutory Compliances
● Risk Management/ Budgeting
● General Administration
● Recovery of Bad Debts
● Accounting & Audit
● Credit Administration & Control
● Project appraisals
● Staff Administration (HRD)
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Smt. Anjubala Purushottam :
[Managing Director & CEO] |
Smt. Anjubala Purushottam took charge as MD & CEO of LIC Pension Fund Ltd from 30th August 2024. She joined the company as COO. She is a Gold Medalist in English Literature from North-Eastern Hill University (NEHU), Shillong. She has 36 years of rich experience with LIC of India in Operations, HR & Admin, Customer Relationship Management and Corporate Communications. Prior to joining LIC PFL as Chief Operating Officer, she headed the CRM/Claims portfolio of LIC of India. During her tenure, Digital payment in claim settlement and reconnect with customers through cross-selling and upselling achieved new heights.
Her rendezvous with LIC Golden Jubilee Foundation and her flagship project LIC Golden Jubilee Scholarship Scheme has benefited thousands of students in economically weaker sections of the Society. As HR Head in LIC Housing Finance Ltd., many new initiatives were implemented successfully. Her journey from creating trust to creating wealth for the stakeholders has been both challenging and exciting.
Her focus is on the Company’s growth, driving profitability and creating value for the NPS subscribers. Her vision is to play an active role in making India a pensioned society. |
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Our Team:
1. Smt. Anjubala Purushottam (Managing Director & CEO)
2. Shri Arindam Dasgupta (CIO)
3. Shri K. L. Gupta (CFO / Principal Officer)
4. Shri D. Agnihotri (CRO)
5. Shri M. N. Agrawal (InCharge-Operations)
6. Smt. Sifra Nagaonkar (FM)
7. Shri Avinash Abhyankar (Company Secretary & Compliance Officer)
8. Shri Ketan Purandare (CISO)
9. Smt. Disha Patil (FM)
10. Shri Subir Sur (FM)
Member of Audit Committee:
1. Shri Gopal Singh Gusain, Chairman
2. Shri Debasish Mohanty, Member
3. Smt. Sashikala Muralidharan, Member
Member of Investment Management Committee:
1. Shri Kishor Kharat, Chairman
2. Shri Debasish Mohanty, Member
3. Smt. Anjubala Purushottam, Member
4. Shri Arindam Dasgupta, Member
5. Shri D. Agnihotri, Member
Member of Risk Management Committee:
1. Smt. Sashikala Muralidharan, Chairperson
2. Smt. Anjubala Purushottam, Member
3. Shri Arindam Dasgupta, Member
4. Shri D. Agnihotri, Member
5. Shri Avinash Abhyankar, Member
Members of Nomination and Remuneration Committee:
1. Shri Debasish Mohanty, Chairman
2. Smt. Sashikala Muralidharan, Member
3. Shri Gopal Singh Gusain, Member
Members of Corporate Social Responsibility Committee:
1. Shri Gopal Singh Gusain, Chairman
2. Shri Kishor Kharat, Member
3. Smt. Anjubala Purushottam, Member
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