The move comes as India seeks to expand long-term financing for infrastructure and other development projects while strengthening the country’s pension ecosystem.
According to PFRDA, the committee will examine ways for Indian pension funds managing the retirement savings of more than 100 million NPS subscribers to collaborate with leading global pension funds through co-investment platforms, strategic partnerships and other investment structures.
The regulator said such partnerships could help bring stable, long-term capital into infrastructure and other nation-building assets. It also said greater collaboration could support the growth of domestic capital markets and provide opportunities for portfolio diversification and long-term risk-adjusted returns for NPS subscribers.
The committee will also recommend a policy, regulatory and governance framework to facilitate participation by global pension investors while safeguarding subscriber interests and maintaining financial stability.
The six-member panel will be chaired by Dinesh Khara, Chairman of NPS Trust. Other members include Narayan Ramachandran, Chairman of TeamLease Services; former SEBI whole-time member Ananth Narayan; financial sector veteran Ashvin Parekh; NPS Trust trustee Arvind Gupta; and NPS Trust CEO Suparna Tandon, who will serve as the member secretary.
At present, pension funds under the NPS manage assets worth about $185 billion, or around ₹17.5 lakh crore, equivalent to nearly 5% of India’s GDP, according to PFRDA.
While the committee’s recommendations are yet to be finalised, PFRDA said they are expected to lay the foundation for a more globally integrated pension ecosystem that supports India’s long-term infrastructure financing needs and the continued expansion of the NPS.
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