PNB MetLife India Insurance Company has launched a new unit-linked insurance plan, the Pension Consumption Fund, in partnership with Policybazaar. The fund is designed for long-term retirement planning and will focus on equity-led growth, investing in companies that are expected to benefit from India’s domestic consumption trends. The initial price of the fund is ₹10 per unit during its New Fund Offer (NFO) window, which runs from October 16 to October 31.
The fund will be accessible through PNB MetLife’s Smart Invest Pension Plan and Smart Invest Pension Plan Pro. It will invest in themes such as rising incomes, urbanization, and digital adoption, which are expected to drive India’s growth trajectory. The launch of the fund aims to support individuals looking to build long-term wealth linked to India’s growth.
According to Sameer Bansal, Managing Director and CEO of PNB MetLife, the fund is designed to help individuals achieve their long-term retirement goals. Sarbvir Singh, Joint Group CEO of PB Fintech, added that the fund seeks to offer a disciplined approach to sustaining post-retirement lifestyles.
PNB MetLife’s partnership with Policybazaar will facilitate access to the fund across Policybazaar’s online platform, making it easily accessible to a wide range of customers. PNB MetLife combines MetLife Inc.’s global backing with Punjab National Bank’s domestic distribution network, providing a strong foundation for the fund.
The launch of the Pension Consumption Fund is part of a larger trend in the Indian insurance industry, with other companies such as Axis Max Life also launching consumption-focused equity funds under unit-linked insurance plans. The fund is expected to appeal to individuals looking for a long-term retirement planning solution that is linked to India’s growth trajectory. With its focus on equity-led growth and domestic consumption trends, the Pension Consumption Fund is well-positioned to help individuals achieve their retirement goals.