April 17, 2024

To strengthen the Nationwide Pension System (NPS), the Pension Fund Regulatory and Improvement Authority (PFRDA) issued a brand new order. Accessing the NPS Central Report-keeping Company (CRA) system would require two-factor authentication from April 1, 2024, combining Aadhaar-based verification with the present password-based login mechanism.

The PFRDA’s new round requires Authorities Nodal Workplaces to adjust to this improved safety process. Beforehand, these places of work may get into the CRA system with a fundamental password. Nonetheless, on April 1, 2024, Aadhaar-based authentication might be required, leading to a two-factor authentication course of.

How Does The New System Work?

Beneath the elevated safety association, customers will proceed to log into the CRA system utilizing their present Consumer ID and Password.

Along with these credentials, an Aadhaar-based authentication step might be carried out. This extra layer of safety is meant to stop unlawful entry and protect NPS transactions.

Key Options Of Enhanced System

  • Reduces The Danger Of Unauthorized Entry: Using two-factor authentication significantly minimizes the potential of unlawful entry into the CRA system, permitting solely authenticated customers to get entry.
  • Additional Layer Of Safety: By implementing this further safety precaution, the PFRDA demonstrates its dedication to defending the pursuits of NPS clients and stakeholders.
  • Aadhaar Linkage: Authorities Nodal Workplaces at the moment are required to hyperlink their Aadhaar credentials to their CRA Consumer ID. This connectivity permits Aadhaar OTP (one-time password) for use for authentication. 
  • Seamless NPS Actions: To ensure a clean transition, authorities businesses and autonomous our bodies should shortly implement the infrastructure required to allow Aadhaar-based login and authentication for all NPS-related transactions.

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