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PFRDA has now allowed NPS subscribers to make contributions through UPI QR code, according to a press release by Press Information Bureau of India. With this, subscribers can make NPS contribution through any UPI app like BHIM, GPay and PhonePe.
This also means that subscribers having RuPay Credit Cards can also make NPS contribution since these payment apps allow users to integrate their Rupay credit card to their UPI account.
However, subscribers who have enabled D-remit Id can use QR code to make NPS contribution. Your clients can create the D-remit Id/Virtual Id on the websites of central recordkeeping agencies.
PFRDA said that the QR code will be unique to each subscriber, which can be saved offline for making payments anytime. Also, the QR codes will be different for Tier I and Tier II NPS accounts.
PFRDA said, “The introduction of QR code - UPI for D-Remit is a positive & revolutionary step towards making NPS contributions more accessible, efficient, and flexible. This initiative by PFRDA empowers NPS subscribers to take control of their retirement savings and benefit from the advantages of systematic investment planning.