NPS transactions to get more secure through aadhaar-based access, PFRDA releases circular

livemint.com:

PFRDA) on Tuesday released a circular in a bid to secure NPS (National Pension System) transactions through aadhaar-based access of the Central Recordkeeping Agency system under the government sector. As of now, the nodal offices under central and state governments including autonomous bodies currently use a password-based login in order to access the central recordkeeping agency (CRA) for NPS transactions.

To increase the security measures in accessing the CRA system and safeguard the interest 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 integration of aadhaar based login authentication is a proactive step to fortify the overall authentication and login framework. The initiative is designed to create a secure environment for all NPS activities carried out by government offices and autonomous bodies.

The new system is currently being developed and is likely to go live on April 1, 2024. Additionally, the Central Recordkeeping Agency will disseminate a detailed standard operating procedure along with the proceeds flow to government nodal offices and engage extensively with nodal officers to make them aware of the changes.