According to people familiar with the matter, India is considering a comprehensive reform of the investment rules for its $180 billion national pension system. The move is aimed at giving fund managers greater investment autonomy, allowing them to invest in lower credit-rated debt, alternative assets, and a wider range of stocks. According to people familiar with the matter, these proposed reforms are being drafted by a special team of the Indian Pension Fund Regulation and Development Authority, which is expected to submit proposals for revising the investment guidelines soon. Since the review is an internal secret, these individuals requested anonymity. They said the recommendations still need to be approved by the supervisory authority's board of directors before they officially take effect.

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