Committee for Strategic Asset Allocation and Risk Governance

On 25th January 2026, the Pension Fund Regulatory and Development Authority (PFRDA) constituted a committee of investment experts for Strategic Asset Allocation and Risk Governance (SAARG).

The committee has been formed to review, modernize, and strengthen the investment framework under the National Pension System (NPS).

Aim of the Committee

Objective	Details
Modernisation of NPS Framework	To review, recommend, and modernize the investment architecture, governance standards, and risk management practices under the National Pension System.

Key Mandates of SAARG

Mandate	Purpose
Global Benchmarking	Compare NPS investment guidelines with leading global pension systems.
Asset Classes	Expand and diversify investment avenues for greater resilience and stability.
Asset Allocation	Recommend an optimal asset mix with suitable risk-control mechanisms.
Performance & Accountability	Improve evaluation standards, accountability, and transparency of fund management.
Risk Management	Strengthen frameworks related to market, credit, liquidity, and operational risks.
Governance Review	Review custodial systems and intermediary governance processes.
Sustainability	Integrate climate-risk and net-zero considerations into pension investments.

PT Facts

PFRDA: Regulates pension funds and the National Pension System in India.
NPS: A voluntary retirement savings scheme regulated by PFRDA.
Strategic Asset Allocation: Long-term allocation of investments across asset classes based on risk-return objectives.
Net-Zero Consideration: Incorporating climate and sustainability goals into investment decisions.

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