The Indian government announced a significant enhancement for National Pension System (NPS) subscribers. The Pension Fund Regulatory and Development Authority (PFRDA) has now enabled contributions to NPS accounts via the Unified Payments Interface (UPI) QR code.
This move is designed to streamline and simplify the process of making pension contributions, making it more user-friendly and efficient.
How to contribute to NPS Using UPI?
With this new system, NPS subscribers can easily transfer their contributions using the UPI QR Code. This method introduces the convenience of initiating a systematic investment plan (SIP) directly through the NPS. Subscribers can set up standing instructions online for SIP payments to their NPS accounts, facilitating regular and hassle-free contributions.
This development is a significant step towards enhancing the ease of managing pension investments, offering a blend of simplicity and technological advancement to NPS subscribers. It underscores the government’s commitment to making financial processes more accessible and efficient for its citizens.
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