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      <regZipOrPostalCode>94403-1906</regZipOrPostalCode>
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      <seriesName>Franklin Rising Dividends VIP Fund</seriesName>
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      <repPdEnd>2020-12-31</repPdEnd>
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        <name>IFT MONEY MARKET PORTFOLIO OEMF-SWEEP MONEY MARKET PORTFOLIO</name>
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      <invstOrSec>
        <name>PEPSICO INC COM USD.017</name>
        <lei>FJSUNZKFNQ5YPJ5OT455</lei>
        <title>PEPSICO INC COM USD.017</title>
        <cusip>713448108</cusip>
        <identifiers>
          <ticker value="PEP"/>
          <other otherDesc="Internal Identifier" value="6887"/>
        </identifiers>
        <balance>186030.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>24604327.80000000</valUSD>
        <pctVal>1.820418475160</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NASDAQ INC COM USD1</name>
        <lei>549300L8X1Q78ERXFD06</lei>
        <title>NASDAQ INC COM USD1</title>
        <cusip>631103108</cusip>
        <identifiers>
          <ticker value="NDAQ"/>
          <other otherDesc="Internal Identifier" value="327425"/>
        </identifiers>
        <balance>45140.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5392875.80000000</valUSD>
        <pctVal>0.399006663395</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NIKE INC COM B NPV</name>
        <lei>787RXPR0UX0O0XUXPZ81</lei>
        <title>NIKE INC COM B NPV</title>
        <cusip>654106103</cusip>
        <identifiers>
          <ticker value="NKE"/>
          <other otherDesc="Internal Identifier" value="3790"/>
        </identifiers>
        <balance>280384.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>27491651.20000000</valUSD>
        <pctVal>2.034044992570</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EOG RESOURCES INC COM USD.01</name>
        <lei>XWTZDRYZPBUHIQBKDB46</lei>
        <title>EOG RESOURCES INC COM USD.01</title>
        <cusip>26875P101</cusip>
        <identifiers>
          <ticker value="EOG"/>
          <other otherDesc="Internal Identifier" value="29725"/>
        </identifiers>
        <balance>142861.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7237338.26000000</valUSD>
        <pctVal>0.535474262356</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DONALDSON CO INC COM USD5</name>
        <lei>OZE6KXY9QQPR8EJ8WL20</lei>
        <title>DONALDSON CO INC COM USD5</title>
        <cusip>257651109</cusip>
        <identifiers>
          <ticker value="DCI"/>
          <other otherDesc="Internal Identifier" value="7297"/>
        </identifiers>
        <balance>190497.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8861920.44000000</valUSD>
        <pctVal>0.655673417518</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WEST PHARMACEUTICAL SERVICES INC COM USD.25</name>
        <lei>5493007NKRGM1RJQ1P16</lei>
        <title>WEST PHARMACEUTICAL SERVICES INC COM USD.25</title>
        <cusip>955306105</cusip>
        <identifiers>
          <ticker value="WST"/>
          <other otherDesc="Internal Identifier" value="32488"/>
        </identifiers>
        <balance>166901.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>37914900.17000000</valUSD>
        <pctVal>2.805237570982</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TEXAS INSTRUMENTS INC COM USD1</name>
        <lei>WDJNR2L6D8RWOEB8T652</lei>
        <title>TEXAS INSTRUMENTS INC COM USD1</title>
        <cusip>882508104</cusip>
        <identifiers>
          <ticker value="TXN"/>
          <other otherDesc="Internal Identifier" value="5041"/>
        </identifiers>
        <balance>332168.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>42175370.96000000</valUSD>
        <pctVal>3.120460153044</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COLGATE-PALMOLIVE CO COM USD1</name>
        <lei>YMEGZFW4SBUSS5BQXF88</lei>
        <title>COLGATE-PALMOLIVE CO COM USD1</title>
        <cusip>194162103</cusip>
        <identifiers>
          <ticker value="CL"/>
          <other otherDesc="Internal Identifier" value="20769"/>
        </identifiers>
        <balance>248540.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>18208040.40000000</valUSD>
        <pctVal>1.347171660614</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UNITEDHEALTH GROUP INC COM USD0.01</name>
        <lei>549300GHBMY8T5GXDE41</lei>
        <title>UNITEDHEALTH GROUP INC COM USD0.01</title>
        <cusip>91324P102</cusip>
        <identifiers>
          <ticker value="UNH"/>
          <other otherDesc="Internal Identifier" value="12365"/>
        </identifiers>
        <balance>59400.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>17520030.00000000</valUSD>
        <pctVal>1.296267329740</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Otis Worldwide Corp COM USD 0.01</name>
        <lei>549300ZLBKR8VSU25153</lei>
        <title>Otis Worldwide Corp COM USD 0.01</title>
        <cusip>68902V107</cusip>
        <identifiers>
          <ticker value="OTIS"/>
          <other otherDesc="Internal Identifier" value="1057514"/>
        </identifiers>
        <balance>98553.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5603723.58000000</valUSD>
        <pctVal>0.414606812982</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HONEYWELL INTERNATIONAL INC COM USD1</name>
        <lei>ISRPG12PN4EIEOEMW547</lei>
        <title>HONEYWELL INTERNATIONAL INC COM USD1</title>
        <cusip>438516106</cusip>
        <identifiers>
          <ticker value="HON"/>
          <other otherDesc="Internal Identifier" value="14737"/>
        </identifiers>
        <balance>248075.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>35869164.25000000</valUSD>
        <pctVal>2.653878204681</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MCCORMICK &amp; CO INC COM NPV</name>
        <lei>549300JQQA6MQ4OJP259</lei>
        <title>MCCORMICK &amp; CO INC COM NPV</title>
        <cusip>579780206</cusip>
        <identifiers>
          <ticker value="MKC"/>
          <other otherDesc="Internal Identifier" value="200568"/>
        </identifiers>
        <balance>124447.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>22327036.27000000</valUSD>
        <pctVal>1.651926833842</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ACCENTURE PLC ORD A USD.00002</name>
        <lei>N/A</lei>
        <title>ACCENTURE PLC ORD A USD.00002</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IE00B4BNMY34"/>
          <other otherDesc="Internal Identifier" value="213758"/>
        </identifiers>
        <balance>243078.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>52193708.16000000</valUSD>
        <pctVal>3.861694226883</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ERIE INDEMNITY CO COM USD1</name>
        <lei>549300WA5KP94KRUFZ80</lei>
        <title>ERIE INDEMNITY CO COM USD1</title>
        <cusip>29530P102</cusip>
        <identifiers>
          <ticker value="ERIE"/>
          <other otherDesc="Internal Identifier" value="235539"/>
        </identifiers>
        <balance>62670.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12026373.00000000</valUSD>
        <pctVal>0.889804093667</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WW GRAINGER INC COM USD.5</name>
        <lei>549300TWZSP6O1IH2V34</lei>
        <title>WW GRAINGER INC COM USD.5</title>
        <cusip>384802104</cusip>
        <identifiers>
          <ticker value="GWW"/>
          <other otherDesc="Internal Identifier" value="7124"/>
        </identifiers>
        <balance>40993.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12878360.88000000</valUSD>
        <pctVal>0.952840746811</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CINTAS CORP COM NPV</name>
        <lei>N/A</lei>
        <title>CINTAS CORP COM NPV</title>
        <cusip>172908105</cusip>
        <identifiers>
          <ticker value="CTAS"/>
          <other otherDesc="Internal Identifier" value="29592"/>
        </identifiers>
        <balance>84272.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>22446689.92000000</valUSD>
        <pctVal>1.660779736342</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JOHNSON CONTROLS INTERNATIONAL PLC ORD USD.01</name>
        <lei>549300XQ6S1GYKGBL205</lei>
        <title>JOHNSON CONTROLS INTERNATIONAL PLC ORD USD.01</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IE00BY7QL619"/>
          <other otherDesc="Internal Identifier" value="592021"/>
        </identifiers>
        <balance>486910.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16623107.40000000</valUSD>
        <pctVal>1.229906058459</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UNITED PARCEL SERVICE INC COM B USD.01</name>
        <lei>D01LMJZU09ULLNCY6Z23</lei>
        <title>UNITED PARCEL SERVICE INC COM B USD.01</title>
        <cusip>911312106</cusip>
        <identifiers>
          <ticker value="UPS"/>
          <other otherDesc="Internal Identifier" value="178470"/>
        </identifiers>
        <balance>161367.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>17940783.06000000</valUSD>
        <pctVal>1.327397895474</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MEDTRONIC PLC ORD USD.1</name>
        <lei>549300GX3ZBSQWUXY261</lei>
        <title>MEDTRONIC PLC ORD USD.1</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IE00BTN1Y115"/>
          <other otherDesc="Internal Identifier" value="596122"/>
        </identifiers>
        <balance>399554.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>36639101.80000000</valUSD>
        <pctVal>2.710844139786</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DENTSPLY SIRONA INC COM USD.01</name>
        <lei>9NHEHR1SOZCYXDO8HO28</lei>
        <title>DENTSPLY SIRONA INC COM USD.01</title>
        <cusip>24906P109</cusip>
        <identifiers>
          <ticker value="XRAY"/>
          <other otherDesc="Internal Identifier" value="204104"/>
        </identifiers>
        <balance>124192.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5471899.52000000</valUSD>
        <pctVal>0.404853449417</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PERRIGO CO PLC ORD USD.001</name>
        <lei>549300IFOQS6R1QLY196</lei>
        <title>PERRIGO CO PLC ORD USD.001</title>
        <cusip>G97822103</cusip>
        <identifiers>
          <ticker value="PRGO"/>
          <other otherDesc="Internal Identifier" value="566887"/>
        </identifiers>
        <balance>108863.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6016858.01000000</valUSD>
        <pctVal>0.445173693541</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2020-07-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Robert Kubilis</ncom:nameOfApplicant>
      <ncom:signature>Robert Kubilis</ncom:signature>
      <ncom:signerName>Robert Kubilis</ncom:signerName>
      <ncom:title>Chief Financial Officer, Chief Accounting Officer and Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
