NPS account opening forms: OTP based authentication to submit forms allowed by PFRDA

NPS account opening forms: OTP based authentication has been allowed now. Due to the Covid-19 induced lock-down and mobility challenges on account of  social distancing norms, a large number of NPS Subscribers find it difficult to submit NPS Account opening forms to Central Record Keeping Agencies(CRAs). It was also observed by PFRDA that collection of physical forms by the Points of Presence (PoPs) and thereafter transmitting  the same to the CRAs had become quite  challenging. 

To help NPS Subscribers, PFRDA has decided to extend the OTP based authentication to such accounts where the physical form have not been received by CRAs. By OTP based authentication, the subscribers, whose physical forms are not received till now, need not submit the physical forms and hence those subscribers can continue to avail the services of NPS, viz. contribution deposit, choice of investment etc.

In the interest of the subscribers, the PFRDA has also advised its intermediaries viz. CRAs/POPs to create awareness about this facility of OTP based authentication among the Subscribers whose forms have not been received at CRAs so that such Accounts can be regularized. 

It should be clear to everybody that only those subscribers whose mobile number and email id registered in their NPS accounts can avail the facility of OTP based authentication.

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