NPS account holders: PFRDA has now included UPI in the payment system making it easier for NPS account holders to contribute. Now account holders will be able to add money to the NPS account through UPI at any time of the day.
There is good news for the account holders of National Pension System (NPS). The Pension Fund Regulatory and Development Authority (PFRDA) has also started the facility of Unified Payment Interface (UPI) for contribution through de-remit. That is, now account holders can also put money in NPS through UPI. Till now this deposit was done only through IMPS / NEFT / RTGS.
Now with the facility of payment through UPI, it will be easier for the account holders to contribute. Let us tell you that UPI is a real time payment system, which allows instant transfer of money from one bank account to another bank account. The special thing is that through UPI you can transfer money at any time throughout the day. Let us tell you that this facility has also been started for the account holders of Atal Pension Yojana. However, the contribution made before 9.30 am will be counted as investment for that day but after that, it will be counted as investment for the next day.
How to make payment through UPI
- First of all login to the website of ENPS.
- Verify your Permanent Account Number.
- You will get OTP on registered mobile number or e-mail.
- Select Tier-1 or 2 account for which Virtual Account (VAN) is to be created.
- Give your consent and select Generate Virtual Account.
- An application will be sent to your trustee bank and you will get the acknowledgment number.
- Enter the 15 digit VAN in your UPI handle.
- After that enter PFRDA.15digitVirtualAccount@(bank’s name) and send Rs.
What is National Payment System
Let us tell you that the NPS scheme is for the employees of the organized sector. It was made mandatory for central government employees (except armed forces) in 2004. This is applicable to only those employees who have joined the service from 1st January 2004. In May 2009, it was extended to the private and unorganized sector on a voluntary basis.
