TOKYO, June 6 (Reuters) - Japanese Prime Minister Shinzo Abe has told the health minister to accelerate an asset allocation review by the Government Pension Investment Fund (GPIF), the world's biggest pension system, and complete it by this autumn instead of by next March, sources familiar with the situation said.
Earlier this week, the ministry completed an evaluation of the public pension system that paved the way for GPIF to begin the review of its asset allocations, a process set to shift more money into stocks and less into domestic bonds.
The evaluation will form the basis for the $1.26 trillion fund to raise its targeted returns to 1.7 percentage points over nominal wage increases, from 1.6 points.
Health Minister Norihisa Tamura is due to announce the accelerated timing for the review process at a news conference that will follow a cabinet meeting on Friday morning, the sources said. (Reporting by Chikafumi Hodo and Takaya Yamaguchi; Editing by Edmund Klamann and Diane Craft)