look news india
There is going to be a big change in the process of logging into the National Pension Scheme (NPS) account from April. For this, double security system (two-factor authentication) will be implemented. In this, NPS members will have to login through Aadhaar verification and OTP received on mobile. The new system will come into effect from April 1.
Pension fund regulator PFRDA has recently made two-factor authentication mandatory. The regulator says that this will increase the security of the NPS account. The account is operated through the Central Record Keeping Agency (CRA) system. CRA system is a web based platform, designed for NPS related functions.
At present this is the arrangement: At present, NPS members require a user ID and password to login to the account. Only through these, any kind of change and withdrawal is possible after logging into the account.
At present, nodal officers of the Central and State Governments rely on a password based system to log into the CRA system. To make it more secure it will be linked to Aadhaar and OTP verification.
You can use it like this: According to PFRDA, Aadhaar based log-in verification will be linked to the user ID of the NPS member. After this, NPS account can be logged in by entering the OTP received on the mobile number linked to Aadhaar.
In this way the security of the account will increase
1. Account can be operated only through Aadhaar login password, Aadhaar verification and mobile OTP. No one else will be able to operate it.
2. If wrong password is entered five times during the login process, the account will be locked. To start again you will have to create a new password.
3. For this you have to request for IPIN or answer pre-recorded secret questions.