PNB MetLife partners with Policybazaar to introduce new ULIP-based Pension Consumption Fund

PNB MetLife India Insurance Company Limited, in collaboration with Policybazaar, has announced a new initiative focused on retirement planning for Indian customers. The two companies have jointly launched the Pension Consumption Fund under PNB MetLife’s Unit-Linked Insurance Plans (ULIPs), aiming to address evolving financial needs associated with longer life expectancy and changing savings approaches. The fund seeks to provide a solution for individuals aiming for financial independence in their later years. The offering will be available during a dedicated New Fund Offer (NFO) period from 16th to 31st October 2025, with units set at an initial price of INR 10. Units will be allotted on 31st October 2025.

The Pension Consumption Fund is structured to generate long-term capital growth for investors. It adopts an active management approach, targeting companies that stand to benefit from India’s expanding domestic consumption. Investment themes include rising incomes, urbanisation, and increased digital adoption. This thematic strategy aligns with broader economic trends in India, where consumption-driven growth presents significant opportunities for capital appreciation. The fund is accessible via two ULIP products: PNB MetLife Smart Invest Pension Plan (UIN: 117L137V04) and PNB MetLife Smart Invest Pension Plan Pro (UIN: 117L138V03).

Sameer Bansal, Managing Director and Chief Executive Officer of PNB MetLife, commented, “Planning for retirement is one of the most important financial decisions our customers make. The Pension Consumption Fund is designed to help them build long-term wealth by investing in India’s growth story and harnessing equity-led opportunities. Through our collaboration with Policybazaar, we aim to make smart retirement investing simple, accessible, and rewarding for everyone.”

Sarbvir Singh, Joint Group CEO of PB Fintech, highlighted the importance of strategic investment in retirement planning. He observed, “Retirement planning today is about strategic investment to sustain one’s lifestyle over time. The Pension Consumption Fund captures India’s vibrant consumption potential, helping investors grow their retirement corpus through a disciplined, long-term approach. We are delighted to partner once again with PNB MetLife to make such solutions more accessible digitally.”

PNB MetLife operates 172 branches and reaches customers in over 20,000 locations across India through bank partnerships. Its product portfolio covers child education, family protection, long-term savings, and retirement, and is distributed by over 36,000 financial advisors and through numerous bank partners.

The collaboration leverages Policybazaar’s digital platform to enhance accessibility, making it easier for Indian customers to participate in the new fund. The initiative is positioned to serve a wide demographic, reflecting PNB MetLife’s engagement with more than 585 group relationships in the country.

PNB MetLife is backed by the financial strength of MetLife, Inc. and the credibility of Punjab National Bank, one of India’s oldest nationalised banks. The company's strategy centres on customer-centric solutions and employee empowerment, and it continues to pursue initiatives that support financial planning for diverse needs across India.