Section 5 in The Life Insurance Corporation of India (Employees) Pension Rules, 1995
5. Constitution of the Fund.
(1)The Corporation shall constitute a Fund to be called the Life Insurance Corporation of India (Employees) Pension Fund under an irrevocable trust within a period of one hundred and twenty days from the notified date.(2)The Fund shall have for its sole purpose the provision of the payment of pension or family pension in accordance with these rules to the employee or his family.(3)The Corporation shall be a contributor to the Fund and shall ensure that sufficient sums are placed in it to enable the trustees to make due payments to beneficiaries under these rules.
