You can now use your Aadhaar card as a document of identity for online enrolment to the National Pension System (NPS).
Pension regulator PFRDA has rolled out an Aadhaar-based model for online registration to NPS, enlarging the options for know-your-customer (KYC) verification.
This would mean that prospective online subscribers to NPS would not be deprived of the eNPS facility if they were to offer their Aadhaar card as a document of identity for KYC verification purposes.
Attracting subscribers
“With this move, we expect larger number of people to come under the online NPS fold,” said Hemant Contractor, Chairman, Pension Fund Regulatory and Development Authority (PFRDA) here on Wednesday.
As of February 6, India had 1.16 crore subscribers to NPS. While 7.1 million subscribers came from the private sector, the government sector accounted for 4.5 million subscribers.
Prior to the latest PFRDA move, prospective online subscribers could use only their income tax department issued Permanent Account Number (PAN) or a bank account for KYC purposes.
The eNPS (online NPS) platform using Aadhaar-based KYC verification is one of the options for any prospective subscriber to join NPS, Contractor said.
