
The National Pension System (NPS) is getting a security upgrade to better protect user information and assets. This upgrade involves implementing two-factor authentication, enhancing the current login process.
Reason for Upgrade
The Pension Fund Regulatory and Development Authority (PFRDA) is responsible for overseeing the NPS. They have decided to introduce additional security measures to safeguard the interests of NPS subscribers and stakeholders.
Two-Factor Authentication Implementation
Starting from April 1, 2024, users accessing the Central Recordkeeping Agency (CRA) system will need to undergo Aadhaar-based authentication along with the existing user ID and password-based login process. This two-factor authentication is designed to enhance security within the NPS ecosystem.
Importance of Two-Factor Authentication
PFRDA emphasizes that this new login process is essential for maintaining a secure environment for NPS operations. It ensures that only authorized individuals can access the CRA system, reducing the risk of unauthorized access and potential misuse of information.
Transition Process
To facilitate a smooth transition, the CRAs will provide detailed Standard Operating Procedures (SOP) and process flow to government Nodal Offices. Additionally, they will engage extensively with Nodal Officers to familiarize them with the upcoming changes.
Consequences of Incorrect Access Attempts
As of February 21, 2024, access to the CRA may be denied if the user ID or password is entered incorrectly. Furthermore, if a user enters an incorrect password five times consecutively, their account will be locked. In such cases, users have the option to reset their password by answering a secret question or requesting an I-Pin.
By implementing these security measures, the NPS aims to enhance data protection and ensure the integrity of its systems and processes.