You can open an NPS account using UPI; learn step-by-step how to open one in minutes on the BHIM app..

Securing your retirement by joining the National Pension System (NPS) has become incredibly easy. The Pension Fund Regulatory and Development Authority (PFRDA) has launched a new facility called the 'NPS Tatkal' scheme. Under this scheme, you can now open a new NPS account directly via the UPI app on your mobile phone and also make pension contributions—depositing funds—through the same platform. Previously, opening a new NPS account involved lengthy paperwork or a registration process (online or offline) to obtain a 'Permanent Retirement Account Number' (PRAN). Now, however, the process can be completed in moments.

**Facility Currently Launched on BHIM UPI**
For now, this facility has been introduced via BHIM UPI, though it will become available on other UPI apps in the future. Five major banks in the country have currently integrated with this specific technology and facility: SBI, HDFC, ICICI, Axis Bank, and IDFC FIRST Bank. A new NPS account will be opened instantly by utilizing the existing KYC details held by the bank linked to your UPI account.

**How ​​to Open an NPS Account via UPI: A Step-by-Step Guide**
Opening a new pension account using the 'NPS Tatkal' facility via the BHIM UPI app is a very simple process. Since it leverages KYC data already held by the bank, there is no need for you to upload any documents. Open the BHIM UPI app on your mobile and navigate to the 'Financial Services' or 'Investment' section. Locate and select the 'NPS Tatkal' option. Next, select the bank account linked to your UPI; the system will automatically fetch your KYC details once the bank is chosen. Enter your PAN and email address. Then, provide the nominee's name, relationship, and age. You will then need to choose your investment preference—'Active' or 'Auto'—with the 'Auto' option generally considered the safer choice. Enter the initial amount you wish to deposit into the NPS account. After entering the amount, input your UPI PIN; the funds will be deducted immediately. Upon successful payment, a 'Registration Successful' message will appear on the screen. Your PRAN will be generated shortly and sent to your mobile number and email address.

Disclaimer: This content has been sourced and edited from Dainik Jagran. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.