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.