NPS: The Pension Fund Regulatory and Development Authority (PFRDA) has rolled out a new directive aimed at fortifying the security of the National Pension System (NPS). Starting April 1, 2024, accessing the NPS Central Record-keeping Agency (CRA) system will require a two-factor authentication process.
Two-factor Authentication Mandate
Under the new directive, users will still utilize their current User ID and Password for logging into the CRA system. However, in addition to these credentials, an Aadhaar-based authentication step will be incorporated. This additional layer of security aims to curtail unauthorized access and safeguard NPS transactions.
Government Nodal Offices Adaptation
Government Nodal Offices, which previously accessed the CRA system using a simple password, are now mandated to adapt to this upgraded security protocol. Henceforth, Aadhaar-based authentication will be compulsory for accessing the CRA system, ensuring a two-factor authentication process.
Benefits of Enhanced Security
The introduction of two-factor authentication significantly reduces the risk of unauthorized entry into the CRA system, thereby safeguarding the interests of NPS subscribers and stakeholders. This extra layer of protection underscores PFRDA’s commitment to ensuring the security and integrity of NPS transactions.
Aadhaar Linkage Requirement
To comply with the new rules, Government Nodal Offices are required to link their Aadhaar credentials with their CRA User IDs. This linkage enables the use of Aadhaar OTP (One-time password) for authentication, thereby adding an additional security layer to the login process.
Smooth Transition Ensured
To ensure a smooth transition, Government offices and Autonomous Bodies must swiftly adopt the necessary infrastructure to facilitate Aadhaar-based login and authentication for all NPS-related transactions. This seamless integration of Aadhaar-based authentication will streamline NPS activities while ensuring enhanced security measures.
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