6 pension funds to get licences

The regulator had earlier decided to allow about 10 pension players including one PSU.

Leading fund management companies like LIC, UTI Mutual Fund, ICICI Prudential, HDFC Standard Life, DSP Merrill Lynch, Templeton, Principal-PNB-Vijaya Bank, Birla Sunlife and Aviva are in the race for managing pension funds of over 300 million people in both the organised and unorganised sectors.

All the players are waiting for the final guidelines, including the extent of foreign direct investment FDI for qualifying as pension fund manager.

PFRDA is expected to spell out the guidelines only after the new government assumes office.