NPS Scheme: The pension regulator announced today that it’s online Aadhaar e-KYC offers ‘Entry to Exit’ Digital tool kits for NPS Subscribers, which means an Aadhaar Card holder can now open or close NPS account online.
NPS Scheme: The Pension Fund Regulatory & Development Authority (PFRDA) has offered another way for National Pension System (NPS) account opening. The pension regulator announced today that it’s online Aadhaar e-KYC offers ‘Entry to Exit’ Digital tool kits for NPS Subscribers, which means an Aadhaar Card holder can now open or close NPS account online.
With ‘entry to exit’ (E2E) digital tool kits provided to Subscribers, PFRDA has transformed the journey of NPS Subscribers and the journey of NPS Subscribers from entering the Scheme till exit, including Annuity issuance, is seamless now and can be performed in a paperless digital mode.
PFRDA had taken up with Dept of Revenue, Govt of India through UIDAI for undertaking online e KYC services by NPS/APY Subscribers. The proposal of PFRDA had been approved by the Dept of Revenue, Ministry of Finance, Govt of India and the copy of their notification dt 22nd Dec 2020 enclosed.
The recent permission given by Dept of Revenue to perform online e KYC shall further simplify the process of Account opening since the process offers the Subscribers a unique experience of NPS Digital Journey.
PFRDA had enabled various digital enablers like OTP based authentication, paperless onboarding, e Sign based authentication, D Remit, Video Customer Identification to facilitate remote on boarding, online exit tools, online enrolment for Govt Sector Subscribers, Self Authentication based exit by Offline Aadhaar, Self Declaration based partial withdrawal , Instant Bank Account verification before passing NPS benefits to verify the beneficiary etc.
PFRDA had allowed NSDL e-Governance Infrastructure Limited, one of its Central Record Keeping Agency to perform as Global Aadhaar User Agency( AUA) for the purpose of NPS and APY.
