India's retirement savings sector is heating up. Word on the street? Parag Parikh Financial Advisory Services is pushing to break into the country's massive $175 billion pension industry. And they're not alone—at least two other institutional players are reportedly sitting at the negotiation table with the pension regulator right now.

This move could reshape how Indians manage their retirement funds. With the market valued at nearly $175 billion, the stakes are enormous. Traditional asset managers are clearly eyeing this space as regulators potentially open doors to new entrants. The question now: who gets the green light first, and what does this mean for everyday savers looking for better returns on their retirement portfolios?