Pension fund investment limits govern asset allocation, credit quality, alternative investments, and issuer, counterparty, and industry concentration.

Portfolio-based limits allow up to full allocation to sovereign debt or equities, while corporate bonds are capped at 40% and high-yield bonds at 5%. Corporate-bond quality and downgrade cure requirements apply. Alternative investments cannot exceed 15% in aggregate, subject to sub-limits for REITs and InvITs, private equity and venture capital, and commodities. Concentration controls cap exposures to individual issuers, counterparties, industries, paid-up capital, and eligible-bank term deposits, with government securities excluded from the single-issuer limit.

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