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LIC housing fin applies for license to PFRDA

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BS Reporter Mumbai

LIC housing finance has applied for a license with the Pension Fund Regulatory Authority (PFRDA) to act as an aggregator under the National Pension System (NPS)- Lite, the company said in a  notification to the Bombay Stock Exchange.

This July, PFRDA increased the allocation from the government’s pension fund to Life Insurance Corporation (LIC) Pension Fund for the year 2010-11.

PFRDA has allocated 35 per cent share of government pension funds to LIC Pension Fund, while the other two pension fund managers — SBI Pension Fund and UTI Pension fund got 33 per cent and 32 per cent, respectively.

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First Published: Sep 06 2010 | 2:22 PM IST

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