PFRDA brings NPS Tatkal to PhonePe and BHIM: How to open an NPS account online in 3 simple steps?

PFRDA has made the NPS Tatkal facility available on PhonePe and BHIM, allowing eligible users to open a National Pension System account in three steps. Here is how the digital registration process works, the minimum contribution and what investors should know.

The National Pension System (NPS) Tatkal facility is now available on PhonePe and BHIM, allowing eligible users to open a pension account through a three-step digital process. The facility offers a simpler route to start retirement savings through payment apps, reducing the effort involved in registering for the scheme.

The Pension Fund Regulatory and Development Authority (PFRDA) announced the availability of the facility in a post on X on 6 October. The move brings NPS account opening to widely used digital payment platforms, potentially making it easier for first-time investors to begin planning for retirement. However, users should check their bank's eligibility and understand the scheme's investment risks and withdrawal rules before opening an account.

How to open an NPS account through PhonePe or BHIM

PFRDA's announcement outlines a three-step process for opening an NPS account through the supported payment apps. Users can access the NPS Tatkal facility, enter the required details and select an eligible bank account, and complete the initial contribution through UPI.

Once the details and payment are successfully verified, the subscriber can obtain a Permanent Retirement Account Number (PRAN), which serves as the unique identification number for the NPS account.