The most likely to incur losses are the privately-managed retirement funds. : Infrastructure Leasing & Financial Services IL&FS, which sits on a debt pile of Rs 91,000 crore, is causing a loss of thousands of crores to the provident and pension funds of middle-class salaried people, said the Economic Times report. The gradual downfall of the IL&FS has revealed the enormous extent of exposure of pension funds and has put as much as Rs 20,000 crore worth of investments at risk.