PNB MetLife launches index fund as 230m Indians face retirement

New pension plan tracks 50 dividend-paying firms to combat ageing crisis.

PNB MetLife India Insurance Company Limited has launched the PNB MetLife Pension Dividend Leaders Index Fund alongside its unit-linked pension product, the PNB MetLife Smart Invest Pension Plan Pro.

The insurer said the new fund is designed to support long-term retirement savings by tracking an index of companies with a consistent record of dividend payouts.

It follows a passive equity strategy and is benchmarked against the BSE 500 Dividend Leaders 50 Index, which is reviewed and rebalanced annually.

The fund will be available during a new fund offering period from 1 to 19 April 2026 at an initial net asset value of $0.11 (INR10) per unit.

The first NAV will be declared on 20 April 2026. Customers can invest through Policybazaar and PNB MetLife’s digital platforms.

PNB MetLife said the fund invests in 50 companies with a track record of consistent dividend payments across large-cap, mid-cap and small-cap segments.

Dividends are reinvested to support compounding over time, with the aim of delivering long-term capital growth and retirement income.

The product also includes a life insurance death benefit, providing financial support to beneficiaries as long as the policy remains in force and premiums are paid.

Sanjay Kumar, Chief Investment Officer at PNB MetLife, said the fund is intended to address India’s growing retirement needs, with more than 230 million people expected to be aged over 60 by 2036.

($1.00 = INR93.19)