NPS accounts to support Aadhaar-based two-factor authentication: What it means
What's the story
The National Pension System (NPS) is getting a security upgrade, as the Pension Fund Regulatory and Development Authority (PFRDA) plans to introduce two-factor authentication for accessing the Central Recordkeeping Agency (CRA) system. In a circular, PFRDA explained, "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."
Log in mechanism
New login mechanism and implementation for NPS accounts
Starting April 1, 2024, users will need to go through an Aadhaar-based login authentication, which will be integrated with the existing user ID and password-based login process. This two-factor authentication aims to create a more secure environment for the NPS ecosystem. PFRDA emphasized that this new login process is an ongoing development.
Account details
Transition process and access denial reasons
To ensure a smooth transition, CRAs will provide detailed standard operating procedures (SOP) and process flow to government Nodal Offices. They will also engage extensively with Nodal Officers to make them aware of the changes. As of February 21, 2024, acces to the CRA may be denied due to incorrect user ID or password.
Information
How to recover NPS account after entering wrong password?
If a user enters an incorrect password five times in a row, their account will be locked. In such a case, users have the option to reset their password by answering a secret question or submitting a request for an I-Pin.