The National Pension System (NPS) is a government-assisted savings tool for retirement. To expedite fund transfers and eliminate intermediaries, the Pension Fund Regulatory and Development Authority (PFRDA) has recently enabled the Quick Response (QR) feature for Direct Remittance (D-Remit) via the United Payments Interface (UPI). So, NPS Payments Are Made Easy With UPI :QR-Based D-Remit Facility. PFRDA introduced the D-Remit facility in 2020. The launch of the QR code on December 6, 2023, will enhance convenience in transferring funds from the subscribers’ bank accounts to the trustee bank. NPS accounts can be opened via the designated banks and post offices or online through the Central Recordkeeping Agency (CRA). Payments are accepted offline and online. The NPS subscribers can now use the QR code, unique to each subscriber, via any UPI application to make fast payments, allowing the members to receive the Net Asset Value (NAV) the same day, provided the trustee bank receives their NPS contributions by 9:30 am. The PFRDA circular states that approximately 10 lakh D-Remit subscriber IDs have been created with a total contribution of around Rs 2,700 crore since the launch of the facility. Besides online transactions, the QR code can be saved offline for easy payment. One must have a 15-digit unique D-Remit ID number to avail of this facility.
NPS Payments Made Easy With UPI QR-Based D-Remit Facility: Learn More
The National Pension System (NPS) has recently introduced a QR code-based payment option via UPI for the ease of subscribers.

NPS accounts for NRIs Photo: NPS accounts for NRIs
NPS accounts for NRIs Photo: NPS accounts for NRIs

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