To strengthen the National Pension System (NPS), the Pension Fund Regulatory and Development Authority (PFRDA) issued a new order. Accessing the NPS Central Record-keeping Agency (CRA) system will require two-factor authentication from April 1, 2024, combining Aadhaar-based verification with the current password-based login mechanism.
The PFRDA’s new circular requires Government Nodal Offices to comply with this improved security procedure. Previously, these offices could get into the CRA system with a basic password. However, on April 1, 2024, Aadhaar-based authentication will be required, resulting in a two-factor authentication process.
How Does The New System Work?
Under the increased security arrangement, users will continue to log into the CRA system using their current User ID and Password.
In addition to these credentials, an Aadhaar-based authentication step will be implemented. This additional layer of protection is intended to prevent illegal access and preserve NPS transactions.
Key Features Of Enhanced System
- Reduces The Risk Of Unauthorized Entry: The use of two-factor authentication considerably minimizes the possibility of illegal entry into the CRA system, allowing only authenticated users to get access.
- Extra Layer Of Protection: By implementing this extra security precaution, the PFRDA demonstrates its commitment to protecting the interests of NPS customers and stakeholders.
- Aadhaar Linkage: Government Nodal Offices are now required to link their Aadhaar credentials to their CRA User ID. This connectivity allows Aadhaar OTP (one-time password) to be used for authentication.
- Seamless NPS Activities: To guarantee a smooth transition, government agencies and autonomous bodies must quickly implement the infrastructure required to enable Aadhaar-based login and authentication for all NPS-related transactions.
