How to invest in NPS: Now you can make NPS contributions through PhonePe

NPS is a highly effective tax saving instrument for personal retirement planning. This scheme not only provides significant tax savings but also comes in handy as a retirement corpus, thus helping users secure their financial future.

ET Online

Previously, users could only make contributions towards their NPS accounts through the websites of PFRDA, NSDL, CAMs, KFintech and Banks.

ET Online

The launch of this feature will allow users to contribute conveniently using the PhonePe app, allowing previously under-served populations to experience the ease and advantages of digital payments.

ET Online

Step 1: Click on ‘View All’ under the ‘Recharges and Pay Bills’ section on your PhonePe app home screen.
Step 2: Click on ‘National Pension System’ under the ‘Financial Services and Taxes’ section and enter the following details:
Step 3: Your 12-digit PRAN or 10-digit mobile number
· Date of Birth
· Tier
· Contribution Amount
Step 4: Tick the checkbox to agree to the Terms and Conditions and tap ‘Confirm’
Step 5: Review the NPS investment details and the breakup of the amount
Step 6: Tap ‘Proceed to Pay’, select your preferred payment mode, and complete the payment.

ET Online