Secure NPS-CRA Login: Aadhaar OTP Verification Mandatory from April 1

Now, logging into the Central Record Keeping Agency (CRA) of the National Pension System (NPS) will require two-factor authentication. According to the new rules, all users will have to login using Aadhaar OTP in addition to their password.

Enhanced Security Measures by PFRDA

Currently, central and state government nodal officers and their autonomous bodies can access all records by simply logging in with a password. The Pension Fund Regulatory and Development Authority (PFRDA) has announced this change. The new rules will be effective from April 1.

Mitigating Unauthorized Access

Two-factor authentication will mitigate the risk of unauthorized access. Only verified users of the CRA system will be able to log in. With increased security levels, NPS transactions will become more secure.

Amendments in Contribution Rules

Previously, PFRDA made amendments to the contribution rules on February 1. According to the new rules, NPS account holders are not allowed to withdraw more than 25% of the total deposited amount.

Inclusion of Employer Contribution

Contributions from both the account holder and the employer (company) will be included. According to this, if you already have a house in your name, you will not be eligible for partial withdrawal from the NPS account.

What is the National Pension System (NPS)?

The National Pension System (NPS) is a government pension-saving scheme. Through this, you can save for retirement. It is mandatory to invest 40% of the deposited amount in annuity in NPS. You can withdraw the remaining 60% during retirement.

Retirement Age Raised to 60

NPS is regulated by PFRDA. Any Indian citizen between the ages of 18 and 70 can invest in it. Its maturity age is up to 60 years. However, if you wish, you can extend it until the age of 75.

Akash Shrivastav

My name is Akash Shrivastav, and I am a Blogger. I have 8 years of experience in blogging for Finance, Business, Investment, Stock Market, Cryptocurreny and more. Through my writing, I aim to provide readers with insightful and informative content.