Source: TOI
Why in News?
The Pension Fund Regulatory and Development Authority (PFRDA) has constituted a high-level expert committee to overhaul and modernise the investment framework of the National Pension System (NPS) in line with global best practices.
About the Committee
- Name: Committee of Investment Experts for Strategic Asset Allocation and Risk Governance (SAARG)
- Chairperson:Narayan Ramachandran
- Former CEO, Morgan Stanley India
- Chairman, TeamLease Services Ltd.
Mandate of SAARG
- Review existing NPS investment guidelines
- Benchmark NPS with leading global pension systems
- Align NPS with India’s evolving investment and capital market ecosystem
- Recommend reforms in:
- Strategic asset allocation
- Risk governance frameworks
Core Objectives
- Strengthen long-term retirement wealth creation
- Improve portfolio diversification
- Enhance risk management and governance standards
- Expand investment choices for NPS subscribers
Composition of the Panel
The committee includes experts from:
- Capital markets
- Mutual funds & asset management
- Securities law and regulation
