Union Bank eyes pension fund foray in JV with Japan’s Daiichi
Union Bank’s foray plan comes after the pension fund regulator approved a framework allowing scheduled commercial banks to independently sponsor pension funds under the NPS in December 2025. The move aims to strengthen the pension ecosystem, boost competition and safeguard subscriber interests by bringing in well-capitalized institutions.
Earlier, banks had to partner with another entity with a minimum of ₹50,000 crore in assets to launch a pension fund. For instance, SBI Pension Fund is sponsored by State Bank of India and SBI Mutual Fund. Similarly, HDFC Pension Management Company is a wholly-owned subsidiary of HDFC Life Insurance Co.
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