Categories: BusinessNews

NPS Account Update: Aadhaar update will be necessary in NPS account also

NPS Account Update: If you also join the National Pension Scheme (National Pension System) then this news is very useful for you. Now, to ensure that no one can break into your NPS, the authentication process of the institute has been made more stringent. Aadhaar verification will be necessary to login to the Central Record Keeping System (CRA System) of NPS. Pension Fund Regulatory and Development Authority (PFRDA)Pension Fund Regulatory and Development AuthorityThe new security features are going to be implemented by ) from April 2024. Currently anyone can login to the CRA system with a normal password.

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The purpose of the amendment is to prevent fraud

An official statement issued by the Pension Fund Regulatory and Development Authority said that the purpose of amendment in Trustee Bank Regulation is to improve the provisions related to implementation of anti-fraud policy, compensation to the customer, inviting applications for new registration and handing over of registration certificate. To simplify and strengthen. It said that the amendment to the regulation related to the Central Recordkeeping Agency (CRA) simplifies and strengthens the provisions related to the operation of the CRA in line with the Companies Act, 2013. It also increases disclosure of information for the agency. Both the amendments were made earlier this month. This is in line with the announcement made in the Union Budget 2023-24 to review the rules to reduce the cost of compliance and increase ease of doing business.

How to login

After the Pension Fund Regulatory and Development Authority (PFRDA) amended the rules related to Trustee Bank and Central Recordkeeping Agency, the method of login will change. Now login can be done only after two-factor authentication process. The regulator of the pension fund has also issued a circular regarding this. The institute has said that this will create a secure eco system for the work related to NPS in government offices and autonomous bodies.


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