New rule for NPS: Know how to use two-factor Aadhaar authentication from April 1

NPS New Rule: The login method of NPS will change from April 1. To further improve the safety of NPS, PFRDA is changing the rules. Now there will be Aadhaar based two-factor authentication. Know how it will work.

NPS New Rule: The method of logging into NPS will change from April 1. The Pension Fund Regulatory and Development Authority (PFRDA) is set to bring changes in the login process for National Pension System (NPS) accounts from April 1. This initiative, Two Factor Authentication, is being started with the aim of increasing the security of customers. This will improve the ecosystem of NPS.

Currently, the nodal offices of the pension related offices of the Central and State Governments are working on a password-based login system for NPS transactions. However, users will also have to do Aadhaar-based login authentication from April 1. It will be integrated with the existing user ID and password-based login process.

PFRDA said this new login process seeks to address concerns related to register access and potential security threats within the NPS framework. Two-factor authentication of Aadhaar will be done through fingerprints. This will provide another layer of security.

How to use this new service

• Visit the NPS website and select the ‘Login with PRAIN/IPIN’ option.
• Click on the PRAIN/IPIN tab to open a new window.
• Log in using your username and password.
• Complete the captcha verification process.
• The window will prompt for Aadhaar verification and send an OTP to the registered mobile number.
• Enter OTP to complete the verification process.

NPS has to be decoded.

NPS is an investment scheme run by the government. NPS works as both a pension account and a voluntary savings account, with two types of accounts, Tier 1 and Tier 2, catering to different investment preferences.

PFRDA has recently outlined the rules for withdrawing money from pension under NPS. These rules stipulate that customers cannot withdraw more than 25% of their contributions from their personal pension accounts, excluding employer contributions.

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