NPS: How NPS Accountholders Can Make Online Contributions To Their Tier I, II Accounts

National Pension System (NPS) subscribers can make contributions to their Tier I and Tier II accounts through several online modes, including the National Payments Corporation of India's (NPCI's) BHIM app and QR codes, among others, thus making the process seamless for investors.

NPCI had earlier announced in a press statement on November 13, 2024 the facility to make NPS contribution through the NPCI BHIM app.

“BHIM users can now contribute to their existing NPS accounts with ease, eliminating the need to remember complex details. Instead, users can make contributions using just their registered mobile number and minimal customer parameters, making retirement planning as easy as a few clicks. Contributions made through BHIM are fully processed and invested within one business day, ensuring timely investment,” the statement said.

So, here are a few ways in which one can make online contribution to their NPS accounts.

What is NPS

NPS is a contributory retirement scheme that provides social security to citizens, including residents, non-residents, employed, and unemployed individuals in the form of pension income. It offers flexibility in deposits and withdrawal options, with a 60:40 withdrawal rule allowing a maximum of 60 per cent of the corpus to be withdrawn tax-free at maturity with the balance 40 per cent to be mandatorily used for buying annuity from an insurance company, thus offering security in the form of an annuity income.

How To Make NPS Contribution Online Using BHIM App:

You can make online contribution to your NPS account using the BHIM App through the following steps.

Step 1: Open the app and go to “View All” option under Recharges amd Pay Bills section available on the home screen

Step 2: Click on ‘NPS’ under and enter the details mentioned in the next step.

Step 3: Enter your Permanent Retirement Account Number (PRAN) or 10-digit mobile number, Date of, Birth, Tier, and Contribution Amount

Step 4: Click on the checkbox to agree with Terms and Conditions and tap on ‘Get Bill Details’ option

Step 5: Go To 'Bill Info' option to review details of NPS investment and the amount breakup

Step 6: Select your preferred payment mode, and press 'Pay', now you have completed the NPS online contribution.

Here are other ways in which you can contribute to your NPS account.

E-NPS

To make an online contribution, the accountholder can to go to nsdl.com and go to the ‘Contribution’ tab. Enter the accountholder’s details, such as PRAN and date of birth. Upon OTP verification, you can make contribution to your Tier I or Tier II account.

NPS Online Contributions Through Mobile Application

Download the NPS mobile app. The contribution can be made even without logging in to the app by just entering the PRAN, and date of birth and then clicking on ‘verify PRAN’. 

After OTP authentication, the accountholder can make contribution in Tier I or Tier II account through Netbanking, debit or credit card.

Making NPS Contribution Online Through QR Code

Computer Age Management Services (CAMS) and Central Record Keeping Agency (CRA) customers can make NPS contributions through QR code. Here are the steps.

Step 1: Accountholders can login to NPS account, click on contribution

Step 2: Initiate contribution process by selecting virtual account status and QR code will appear on your screen.

Step 3: Scan the QR code through any payment UPI App .

How KFin-CRA customers can make NPS online contributions through QR code

Step 1: Accountholder need to visit eNPS login page

Step 2: Click on transaction menu and choose “Subsequent Contribution”.

Step 3: Upon selecting Payment Mode as “UPI”, a QR code as per your Account type will appear.

Step 4: Scan the QR code through any payment UPI App.