PhonePe users can now easily invest in NPS i.e. National Pension System. Earlier, users could only contribute to their NPS accounts through the websites of PFRDA, NSDL, CAMs, KFintech and banks.
New Delhi. There is good news for users of digital payment platform PhonePe. Actually, users will now be able to invest in National Pension System (NPS) through PhonePe as well. PhonePe on Wednesday announced the launch of contribution to NPS as a new savings category under Bharat Connect on its platform. Let us tell you that Bharat Connect was earlier known as Bharat Bill Payment System i.e. BBPS.
Earlier, users could contribute to their NPS accounts only through the websites of PFRDA, NSDL, CAMs, KFintech and banks.
Process to invest in NPS through PhonePe
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- First of all, open your PhonePe app.
- Now click on ‘View All’ in the ‘Recharge & Pay Bills’ section on the home screen.
- After this click on ‘NPS’ in the ‘Financial Services & Taxes’ section.
- Now you will have to enter your 12 digit PRAN or 10 digit mobile number, date of birth, tier, and contribution amount.
- After this, tick the terms and conditions checkbox and tap on confirm.
- Now the NPS investment details and amount breakup will have to be reviewed.
- After this, tap on ‘Proceed to Pay’.
- Now select your preferred payment mode and make payment.
What is NPS?
If you also want to get a big pension after your retirement, then National Pension System can be a good option for you. NPS is a government scheme, which is linked to the market, that is, its return is based on the market. In this scheme, you get the benefit of monthly pension after maturity. If you want, you can also do partial withdrawal at the time of need.
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