PFRDA Introduces Quick Digital Onboarding for NPS

The Pension Fund Regulatory and Development Authority (PFRDA) has issued fresh guidelines to simplify and digitize the subscriber onboarding process under the National Pension System (NPS). The move aims to make enrolment faster, more inclusive, and fully compliant with Know Your Customer (KYC) and anti-money laundering norms.

The new framework, issued through Circular No. PFRDA/2025/18/REG-POP/03, introduces multiple onboarding options — both digital and physical — allowing individuals to join NPS through their preferred mode with enhanced ease and transparency.

Simplified Journey for New Subscribers

According to the circular, the subscriber onboarding journey has been restructured to cover the All-Citizen and Corporate models, as well as other schemes under the Multiple Scheme Framework (MSF). Points of Presence (PoPs) will continue to act as the primary interface for individuals, supported by Central Recordkeeping Agencies (CRAs) for operational and recordkeeping functions.

The guidelines emphasize accessibility for all, including persons with disabilities, and mandate adherence to the latest KYC/AML/CFT master circulars.

Multiple KYC Options: From Video Calls to DigiLocker

PFRDA has detailed a wide range of KYC verification methods to suit diverse subscriber needs:

Face-to-face verification using official documents.
Video-based customer identification (VCIP) with a live PoP official.
Aadhaar-based biometric e-KYC using fingerprint, iris, or facial recognition.
Non-face-to-face modes, such as Aadhaar OTP, DigiLocker, CKYC number, or the bank’s Core Banking System (CBS).

Subscribers can now also complete KYC using their CKYC identifier or existing bank KYC, eliminating the need to submit fresh documents in most cases.

Auto-Fill and Instant Verification Features

The circular introduces an auto-population feature for data retrieved from CKYC or CBS, which will automatically fill in basic personal information such as name, date of birth, address, and PAN.
Subscribers only need to confirm or update specific details like:

Type of NPS account (Corporate/All Citizen)
Choice of Pension Fund and Investment Scheme
Nominee details
FATCA/CRS declaration

All KYC records are to be uploaded to the Central KYC Records Registry (CKYCR) within 10 days of onboarding, ensuring faster synchronization across systems.

Focus on Accessibility and Compliance

PoPs have been instructed to ensure all onboarding modes — digital or physical — remain accessible to differently-abled individuals. This includes alternative verification methods like assisted VCIP or document-based checks.
They must also maintain detailed records of consents and declarations for regulatory inspection.

Additionally, PoPs must guide subscribers in multiple languages on NPS benefits, investment options, and the importance of periodic KYC updates, reinforcing financial inclusion across rural and semi-urban areas.

Post-Onboarding Flexibility

Once registered, NPS subscribers can easily update or modify details such as mobile number, email, bank account, and nominee information through the CRA or PoP web portal or mobile app.
They can also activate Tier II accounts, change pension funds, or opt for multiple schemes under the recently launched Multiple Scheme Framework.

Digital Onboarding Illustration: A Quick Six-Step Journey

The circular includes a six-step illustration for Quick Digital NPS Onboarding:

Login to PoP portal or mobile app and enter CKYC ID or bank details.
Consent to data retrieval for auto-filled KYC.
Add missing personal details.
Select CRA, Pension Fund, and Investment Scheme.
Fill FATCA–CRS declaration.
Make the initial contribution — PRAN is generated instantly after payment confirmation.

Corporate subscribers will additionally need employer authorization details and must confirm their investment preferences.

View PFRDA letter