NPS Form: The new form can be filled both online and offline. Individuals will need to provide personal information, complete the KYC process, and provide necessary authorizations. Authorized agencies and agents will play a key role in this entire process.
Pension regulator PFRDA has made significant changes to the registration and identity verification (KYC) process for new NPS members. A new and simplified registration form has been released. It requires fewer details than before and the document submission process has been shortened.
This form can be completed both online and offline. Individuals will be required to provide personal information, complete the KYC process, and provide necessary authorizations. Authorized agencies and agents will play a key role in this entire process. PFRDA has directed authorized agencies to ensure that individuals with disabilities or those living in rural areas receive equal access. To achieve this, alternative identification options and local language support will be provided during video KYC.
Easy KYC verification
KYC verification has also been simplified under the new rules. It can be done in two ways: face-to-face (face-to-face) or non-face-to-face (online). In face-to-face verification, agency officials will directly inspect the documents. Additionally, identity verification can also be done via video call.
Aadhaar-based biometric e-KYC options are also available. Non-face-to-face KYC can verify identity using Aadhaar OTP, offline QR code, DigiLocker, Central KYC number, or bank records.
Two-way registration
1. Digital Mode: Registration can be done either manually or with assistance through an online portal or app.
2. Physical Mode: Visit the nearest authorized agency branch and fill the subscriber registration form.
New investment options will have to be chosen
Under the new guidelines, NPS membership is now available in two ways: the “All Citizen Model,” for ordinary citizens, and the “Corporate Model,” which allows employees of any company or organization to join. Furthermore, schemes can also be selected under a multiple scheme framework.
