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Link Aadhaar with NPS Account

National Pension System, commonly known as NPS, is a pension scheme backed by the Government of India that lets people generate a considerable amount of corpus at the time of retirement. NPS is managed by Pension Fund Regulatory and Development Authority (PFRDA), which has advised subscribers to link Aadhaar with NPS accounts.

In 2004, the Government of India launched this schemeto provide benefits to government employees which was extended for everyone in the year 2009. A subscriber has to open a single NPS account in which he is required to deposit at least Rs. 6,000 on a monthly basis. From the NPS, a part of the amount in lump sum is allowed to be withdrawn by the subscriber. The remaining part is utilised to purchase an annuity and to ensure that he gets a regular income after retirement.

Link NPS Account with Aadhaar Online

For linking the NPS account with Aadhaar, an individual can perform these steps:

First, login to your NPS account using your details.
Then click on “Update Details” option, and choose a sub-menu option that says, “Update Aadhaar/Address Details”.
Next, select the option that is described as “Add/Update Aadhaar Number”.
Now, the next step is submission of the Aadhaar Number
At this point, you shall receive a One Time Password or an OTP from UIDAI on your registered mobile number.
Once the OTP authentication is done, the PRAN (Permanent Retirement Account Number) linked to the NPS account that was used to login and the Aadhaar number provided will be linked.

It is important to note that the name mentioned in PFRDA should match with the name that you have mentioned on your Aadhaar card.

Link NPS Account with Aadhaar Online (For New Subscribers)

For a new subscriber, it is extremely easy to open an NPS account online and link it with Aadhaar at the time of opening. Simply follow the steps mentioned below to link the NPS account with Aadhaar:

Step 1: Visit the NSDL e-NPS portal at enps.nsdl.com/eNPS/NationalPensionSystem.html
Step 2: Click on the “Registration” option
Step 3: Select the details and enter your Aadhaar number in the space given and click on the “Generate OTP” button
Step 4: Select the disclaimer with a tick and then, click on the “Proceed” button
Step 5: An OTP will then be sent to the mobile number registered with Aadhaar. Now, you have to enter the OTP in the space provided and click on “Continue”
Step 6: Fill the NPS registration form, make the payment which will generate your acknowledgement number
Step 7: As a next step, submit your registration details and generate your PRAN
Step 8: Now, you’ll have to e-Sign the registration form to complete the NPS subscription process

Important Points while NPS Linking with Aadhaar

It is vital to keep the following factors in mind when you intend on linking your Aadhaar number with your NPS account:

The name mentioned in your Permanent Retirement Account Number or PRAN should match with the name mentioned in your Aadhaar card
As a subscriber, you have to follow the Aadhaar-NPS linking process even in case you had submitted your Aadhaar at the time of subscription
Linking Aadhaar with NPS is carried out through the Aadhaar OTP authentication method only
Your mobile number should be registered with your Aadhaar number in order to get this facility. It is mandatory to link your mobile number with Aadhaar if you have not done it already.
Aadhaar seeding for government employees is considered complete only when the respective Nodal officer approves the request

Benefits of Linking the NPS Account with Aadhaar

There are various benefits associated with linking your NPS account with Aadhaar. Some of them are as follows:

Opening an NPS account online becomes extremely easy with the help of Aadhaar authentication
You can instantly fulfil KYC norms because of Aadhaar seeding
The government has issued guidelines to help NPS subscribers link their accounts with Aadhaar. This is done so that it becomes easy to track financial transactions and provide exemptions to taxpayers
e-KYC through the Aadhaar number saves the subscriber any excessive paperwork and the Aadhaar OTP ensures real-time instantaneous verification

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FAQs on Link Aadhaar with NPS Account

How do I open NPS account online using Aadhaar Card?

To open NPS account online using Aadhaar card, simply follow the steps mentioned below-

In case you have a demat account and an account with an authorised bank, visit the bank’s website and apply for an NPS account.
Otherwise, you can visit the eNPS portal and select the ‘registration’ tab.
Enter your Aadhaar number, post which a One Time Password (OTP) will be sent to your registered phone number.
Choose the type of registration from the options mentioned which are- new/complete pending/print form
Also select the type of subscriber from the options provided
Choose the status of applicant and the account type
Enter the Aadhaar number, after which an OTP will be sent to the registered mobile number.
Enter the Aadhaar number allotted to you, after which an OTP will be sent to your registered phone number.
From the Aadhaar database, demographic information and photograph will be obtained and used to fill in the online registration form.
The other details must be filled in online.
A scanned signature needs to be uploaded on the online form.
After submitting the online form, you will be re-directed to a payment gateway to complete the registration process. You can make the payment by credit/debit card or through internet banking.

Can we withdraw NPS amount?

Yes, partial withdrawal of up to 25% is allowed from the corpus for emergencies and retirement.

What are the tax benefits of NPS?

A tax benefit of Rs. 50000 is allowed over and above the benefit of Rs. 1.5 Lakhs which can be claimed as a deduction under Section 80CCE of the Income Tax Act, 1961.

What is the NPS account?

National Pension System, commonly known as NPS, is a pension scheme backed by the Government of India that lets people generate a considerable amount of corpus at the time of retirement.

What is Tier 1 account in NPS?

Tier 1 account in NPS is a rigid retirement account which provides a host of tax breaks. This account is primarily to help you save for your retirement systematically.