NPS Account Opening: On-boarding facility through online Aadhaar e-KYC introduced

At present, the registration under e-NPS occurs either through Aadhaar Offline e-KYC or through PAN and Bank Account.

Opening of National Pension System (NPS) account becomes much easier than before. PFRDA has introduced a facility of NPS on-boarding through online Aadhaar e-KYC.

The NSDL – CRA has enabled the Aadhaar based online e-KYC authentication functionality for subscriber registration in the e-NPS platform.

E-NPS is the online NPS on-boarding portal hosted by the Central Record Keeping Agencies (CRA) appointed by PFRDA wherein one can register and contribute online into NPS and the existing Subscriber can activate their Tier II account. At present, the registration under e NPS occurs either through Aadhaar Offline e-KYC or through PAN & Bank Account.

Now, the Aadhaar based online e-KYC authentication functionality for subscriber registration in e NPS platform has been enabled for the subscribers. The online Aadhaar e KYC will further simplify the process of Account opening which offers the Subscribers, a unique digital experience with an instantaneous generation of Permanent Retirement Account Number (PRAN).

NPS Registration through Aadhaar

1. Aadhaar Number or 16 digit Virtual Identification (VID) Number provided by UIDAI
2. Aadhaar Registered Mobile Number

Aadhaar based eKYC on eNPS platform – Process

1. To open NPS account online using Aadhaar, Subscribers need to visit eNPS portal.

2. Subscribers need to click on “National Pension System” and subsequently click on “Registration” option.

3. Subscribers is now required to select the category of account opening – “Individual Subscriber” or “Corporate Subscriber” category. Further, the applicant status is to be selected from – “Citizen of India” or “Non Resident of India (NRI)” or “Overseas Citizen of India (OCI)”.

4. The Subscribers need to select “Aadhaar Online/Offline KYC” option during registration and select the ‘Tier types’ for account opening.

5. To continue with “Aadhaar online” process, Subscribers are required to select and provide “Aadhaar” (12 digit) or “Virtual ID” (16 digit) number provided by UIDAI and click “Generate OTP”.

6. Generation of OTP – Subscribers are required to click on the “Generate OTP” and submit the OTP received on mobile number registered in Aadhaar.

7. After submission of OTP alongwith consent to use Aadhaar details, the demographic details (Name, Gender, Date of Birth, Address, Photograph etc.) will be fetched from Aadhaar records.

8. Other mandatory details need to be completed by Subscriber in order to complete the NPS registration process.

9. Subscribers are required to make NPS contribution and complete digital registration process through digital authentication (OTP on registered Mobile number and email ID or eSign).