NEW DELHI: The Pension Fund Regulatory and Development Authority (PFRDA) has issued guidelines to enhance the digital safety of government employees investing in the National Pension System (NPS). The advisory, titled ‘Digital Safety Practices for Government Nodal Offices Under NPS Architecture Advisory, 2024′, released on March 27, 2024, applies to central and state government nodal offices, including autonomous bodies.
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PFRDA emphasized that the advisory is in addition of the existing cybersecurity guidelines by MHA/MEITY and Cert-In, highlighting the officers’ continued responsibility for their duties.
The digital safety advisory focuses on ensuring secure online transactions for government sector employees participating in the NPS. It outlines specific steps for onboarding subscribers, maintaining subscriber activities, and handling exits and withdrawals/claims within the NPS framework.
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Regarding onboarding, the guidelines stress the importance of verifying subscriber information against official documents and service records during digitization on the CRA system. Subscriber maintenance activities, such as updating nominations, profiles, and KYC details, require digital authentication and adherence to processing norms to avoid legal and financial consequences.
For exits and withdrawals/claims, the advisory underscores the verification of subscriber information with supporting documents and service records. Users are instructed to follow CRA system guidelines diligently and perform digital authentication before processing requests.
Additionally, the advisory recommends implementing two-factor authentication (2FA) for CRA system access to enhance security. Regular security training sessions and conducting penetration testing and vulnerability assessments are suggested as proactive measures to address security weaknesses.
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PFRDA has announced an enhanced security measure for the NPS effective April 1, 2024, introducing two-factor Aadhaar-based authentication for password-based users logging into the CRA system. This additional layer of security aims to strengthen the protection of NPS accounts.
In conclusion, the guidelines issued by PFRDA aim to safeguard NPS transactions for government employees, emphasizing the importance of adhering to digital safety practices and maintaining vigilance against evolving threats. The implementation of two-factor authentication and regular security assessments are key steps towards enhancing the overall security of the National Pension System.
