According to a circular issued by the Pension Fund Regulatory and Development Authority (PFRDA) in July, online opening of the National Pension System (NPS) account using a Permanent Account Number (PAN) will attract an additional service charge that would be payable to the associated points-of-presence (POPs). These are entities such as banks that distribute the NPS. This charge will also apply if you had opened your account offline through a POP and then made subsequent contributions using eNPS. There are three ways in which you can open an NPS account: offline through a POP, and online using your PAN or Aadhaar.
WHAT IS E-NPS?
eNPS is the online platform where you can open your NPS account. This platform also allows you to make contributions or activate the NPS Tier-II account. You can access eNPS by going to www.npstrust.org.in. If you choose to open your account through eNPS using your PAN, you will also need to give your bank account details so that the authorities can complete the know-your-customer (KYC) process through your bank. Just make sure that the bank is empanelled with PFRDA. According to the NPS Trust website, PFRDA currently has empaneled with 22 banks, you can find your bank on the PFRDA website at: http://bit.ly/2bvRYeL .
Opening your account through Aadhaar is simpler and faster. Just give your Aadhaar details and a one-time password (OTP) will be sent to your Aadhaar-registered mobile phone number. Once the OTP is verified, you can register by giving other details.
