HomeLifestyleOpening an NPS account has become even easier, no need for repeated...

Opening an NPS account has become even easier, no need for repeated KYC, know the details

highlights

PFRDA has made the paperless on-boarding process easier.
Under Azadi Ka Amrit Mahotsav, PFRDA is emphasizing on digitization of its services.
CKYC will save you from the hassle of getting KYC done again and again

New Delhi. Pension fund regulator PFRDA has made the paperless on-boarding process easier. Now getting on board without paper in any government scheme will be easier than before. Giving information about this, PFRDA said that documents can be submitted through Central KYC (CKYC) of the government to join its scheme.

PFRDA is emphasizing on the digitization of its services under the Amrit Mahotsav of Azadi on the completion of 75 years of the country’s independence. Taking a similar initiative, PFRDA said that potential customers have been given another option to open NPS account through CKYC which is online and paperless.

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Freedom from the hassle of repeated KYC
The facility of CKYC has been started on the initiative of the Central Government, which will save the customers from the hassle of getting KYC done again and again to avail the services of financial sectors coming under different regulators. Now you will not need to get KYC done before availing any financial service. For this, CKYC has to be done only once.

digital onboarding facility
Taking the initiative of digital facilities, the Pension Fund Regulatory and Development Authority (PFRDA) is already providing a variety of services. This includes the facility of digital onboarding for your pension plans under the National Pension System (NPS) through documents issued through DigiLocker, Aadhaar eKYC, PAN or bank account information, etc.

Process will become easier for users
The CKYC initiated by PFRDA is managed by the Central Registry of Securitization Asset Reconstruction and Security Interest of India (CERSAI). It is an authorized entity working as the Central KYC Registry (CKYCR) of the Central Government. PFRDA says that the objective of CKYCR is to simplify the process of opening accounts with financial service providers. This will help investors avoid the hassle of preparing KYC documents and verifying them every time.

Tags: NPS, pension fund

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