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NPCI BHIM Services (NBSL), a subsidiary of the National Payments Corporation of India (NPCI), has introduced the ability to contribute to the National Pension System (NPS) via the BHIM app.
With the update, BHIM users can contribute to their existing NPS accounts using only their registered mobile number and basic details, eliminating the need for complex information.
Contributions will be processed and invested within one business day.
Rahul Handa, Chief Business Officer at NBSL, highlighted the impact of the feature: “Enabling NPS contributions on BHIM makes financial services more accessible. This is a key step toward encouraging proactive retirement planning and financial inclusion.”
Noopur Chaturvedi, CEO of NPCI Bharat BillPay, added, “The launch of NPS contributions on BHIM through Bharat Connect helps us promote financial accessibility across India.”
As of September 2024, the NPS has over 38.25 lakh retail accounts, and this new feature aims to boost adoption, supporting individuals in securing their post-retirement income.
How to contribute via BHIM:
With the update, BHIM users can contribute to their existing NPS accounts using only their registered mobile number and basic details, eliminating the need for complex information.
Contributions will be processed and invested within one business day.
Rahul Handa, Chief Business Officer at NBSL, highlighted the impact of the feature: “Enabling NPS contributions on BHIM makes financial services more accessible. This is a key step toward encouraging proactive retirement planning and financial inclusion.”
Noopur Chaturvedi, CEO of NPCI Bharat BillPay, added, “The launch of NPS contributions on BHIM through Bharat Connect helps us promote financial accessibility across India.”
As of September 2024, the NPS has over 38.25 lakh retail accounts, and this new feature aims to boost adoption, supporting individuals in securing their post-retirement income.
How to contribute via BHIM:
- Open the BHIM app and click ‘View All’ under ‘Recharges and Pay Bills’.
- Select ‘NPS’ under ‘Other Categories’ and enter your PRAN or mobile number, date of birth, tier, and contribution amount.
- Agree to the Terms and Conditions, then click ‘Get Bill Details’.
- Review the NPS investment details and choose your payment method.
- Tap ‘Pay’ to complete the transaction.
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