NPS new login rule: Two-factor Aadhaar authentication from April 1; here’s how it works
Upstox
2 min read • Updated: March 26, 2024, 2:07 PM
Summary
From April 1, National Pension System (NPS) subscribers will be able to access their accounts online through a two-factor Aadhaar-based authentication. At present, users can login by entering their registered user IDs along with the password. The additional security check is aimed at preventing unauthorised access.
The process to log into the National Pension System (NPS) accounts is set to change from April 1, 2024. The login attempt would only be successful following a two-factor Aadhaar-based authentication, as per the changes mandated by the Pension Fund Regulatory and Development Authority (PFRDA).
The new login method is aimed at enhancing the security of NPS accounts, the PFRDA said. The changes will eliminate the possibility of unauthorised access, while also minimising the potential security threats within the NPS framework.
The two-factor Aadhaar-based authentication will be integrated with the current login method of using a registered ID, along with a password. The use of Aadhaar as an additional security check has already been rolled out for Employee Provident Fund Organisation (EPFO) subscribers.
How the two-factor Aadhaar authentication works
At present, NPS accounts can be accessed only by adding the username along with the password. However, from April 1 onwards, the user will be required to authenticate his/her credentials with a one-time password (OTP) that would be sent on the mobile phone number linked with the Aadhaar. Here’s a detailed look into how this works.
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Firstly, the user must visit the NPS website. On the landing page, the ‘login with PRAIN/IPIN’ option needs to be selected.
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A new window opens, prompting the user to enter the registered username along with the password. The required credentials must be entered to proceed further.
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Before clicking submit, the user needs to enter the captcha that appears on the page. This step of verification is aimed at eliminating the bots.
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After entering the correct credentials along with the captcha, the user is directed to another page where the Aadhaar number needs to be added.
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On entering the correct Aadhaar number and clicking submit, an OTP would be sent to the Aadhaar-linked mobile number. Upon entering the OTP and clicking next/submit, the user will be able to access the NPS account.
Notably, NPS is a market-linked defined contribution scheme that helps one save for retirement. The scheme is mandatory for central government employees who joined after January 1, 2004, and can be voluntarily adopted by the private sector for their employees.