NPS Aadhaar: Aadhaar based verification of National Pension Scheme (NPS) account has been made mandatory. Now withdrawal from the account will be possible only after double verification. The new system will come into effect from April 1.
Taking a big decision, pension fund regulator PFRDA has made Aadhaar based verification of National Pension Scheme (NPS) account mandatory. Now withdrawal from the account will be possible only after double verification i.e. two-factor authentication. The new system will come into effect from April 1.
The regulator has recently issued a circular in this regard. Accordingly, additional security measures have been taken to log in to the Central Record Keeping Agency (CRA) system. This has been done keeping in mind the interests of NPS members and other parties.
Now two-factor authentication will be used to log in to the CRA system. CRA system is a web based platform, which has been designed for NPS related works.
Currently this is the system: Currently NPS members require a user ID and password to login to the account. Changes and withdrawals in the account are possible only through these. Currently, nodal officers of the Central and State Governments are dependent on the password based system to log in to the CRA system. To make it more secure it will be linked to Aadhaar based verification.
Can be used like this: According to PFRDA, Aadhaar based log-in verification will be linked to the user ID of the NPS member. After this, the NPS account can be logged in after entering the OTP received on the mobile number linked to Aadhaar.
