The process of logging into the National Pension Scheme account is going to change from April 1. To login to the account from April 1, NPS members will have to do two-factor authentication. Users will have to verify OTP followed by Aadhaar verification followed by password. Talking about the current system, members can login only with password.
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The process of logging into the National Pension Scheme account is going to change from next month. After this new change, NPS members will have to do two-factor authentication to login. To login, they will have to login through mobile OTP after Aadhaar verification. The new process will come into effect from April 1.
The Pension Fund Regulatory and Development Authority (PFRDA) had made two-factor authentication mandatory for login a few days ago. He says that with this, NPS members will be able to make their accounts more secure. The NPS account is currently operated by the Central Record Keeping Agency (CRA).
How will two-factor authentication work?
- PFRDA has already made it clear that the login ID of the APS member will be linked to Aadhaar. In such a situation, members will have to enter OTP to login to the account. It is expected that this will increase the security of NPS account.
- To login to the NPS account, first the members have to enter the login ID and password. After this, after Aadhaar authentication, the password received in the linked mobile number will have to be entered. If even a single step is not completed, the account will not be logged in.
- The member will get five chances to login, if the password is incorrect five times, the account will be locked. Once the account is logged in, members will have to create a new password. For this, members will have to request for IPIN.
Currently login is done only through ID-password
Currently, NPS members can login to their account only with user ID and password. By logging into the account, they can make any kind of change or even withdraw money from the account.
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