If you’re a member of the NPS (National Pension System), there’s good news for you! The Pension Fund Regulator (PFRDA) has introduced a new way to invest in NPS using UPI QR codes.
The PFRDA aims to make investing in NPS easier for subscribers. Now, instead of the traditional method, you can use UPI QR codes to invest in your NPS account.
This change is designed to simplify the investment process and enhance the experience for those opening NPS accounts.
NPS has been a trusted savings tool for those looking to secure their future.
The PFRDA’s initiative empowers NPS subscribers, giving them more control over their retirement savings through a systematic investment plan.
With the new system, you can transfer your contributions using a UPI QR code.
Previously, subscribers could invest directly through their bank accounts using D-Remit, a 15-digit ID added as a beneficiary in Internet Banking.
The PFRDA reports that around 10 lakh different D-Remit IDs have been created so far.
Now, NPS subscribers have the option to invest using a de-remit based QR code.
By scanning the QR code with any UPI-enabled application, customers can invest easily.
Each customer will have a unique QR code, and you can save it offline for future payments. The PFRDA mentions that QR codes are different for Tier I and Tier II accounts.
