NPS new login norms mandate two-factor Aadhaar authentication from THIS month. Details here
Pension Fund Regulatory and Development Authority (PFRDA) is set to revamp the current login process for National Pension System (NPS) accounts by April 1, 2024. The pension regulatory body recently announced an enhanced security system.
They have implemented a two-factor Aadhaar authentication and made the new security mandatory for all password-based users logging into the Central Recordkeeping Agency (CRA) system of the NPS from April 1, 2024. The PFRDA notification said, “To enhance the security measures in accessing the CRA system and safeguard the interests of subscribers and stakeholders, it has been decided to bring in additional security features through Aadhaar-based authentication for login to the CRA system." “The Aadhaar-based login authentication will be integrated with the current user ID and password-based login process so as to make the CRA system accessible through 2 Factor Authentication," the notification added.
Under the new security system, NPS subscribers can access their accounts only after Aadhaar-based authentication and entering the OTP sent to their registered mobile number. The two-factor Aadhaar authentication system is add-on checks to validate the genuineness of the fingerprint and further reduce spoofing attempts, thereby making Aadhaar-authenticated transactions much more secure and robust.
The integration of Aadhaar-based login authentication aims to fortify the overall authentication and login framework of the NPS CRA system. As per the PFRDA statement dated March 15, 2024, the new security system will provide (i) increased security and (ii) enhanced protection.
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