"We received the GN Bajpai committee report last week. It will have to be tabled before the board (PFRDA). We expect the whole process to complete in 2-3 weeks time," Contractor told reporters here.

Last year, PFRDA had set up an expert committee under the chairmanship of former SEBI chief  GN Bajpai to review the investment guidelines for national pension system (NPS) schemes in the private sector.

The committee has recommended diversifying investment portfolio of NPS scheme into private equity and venture capital funds. At present, NPS funds can be invested in government securities, corporate bonds and equities.

The total assets managed under NPS are about Rs 82,000 crore, while the private sector's contribution is just Rs 5,000 crore. The PFRDA regulates NPS, which is subscribed by employees of both central and state governments, besides private institutions and unorganised sectors.

Members of the committee were Deepak Satwalekar, former CEO and Managing Director at HDFC Standard Life Insurance Company; S B Mathur, former LIC Chairman; C R Murlidharan, former IRDA Member and Madhavi Das, Executive Director, PFRDA.

The central government had introduced the New Pension System (NPS) in January 2004. Initially, the New Pension System covered new entrants to central government services (excluding Armed Forces) and some state government services. From May 1, 2009, PFRDA has extended NPS to all citizens of the country, including workers of the unorganised sector.

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