PFRDA Simplifies NPS Registration with CKYC Guidelines

The Pension Fund Regulatory and Development Authority (PFRDA) has issued new guidelines for National Pension System (NPS) registration through Points of Presence (PoPs), including banks, financial institutions, and post offices. As of March 2025, there are 367 registered PoPs across India.

Registration Options: Offline and Online

Subscribers can open an NPS account offline using a physical Subscriber Registration Form (SRF) or online through self-assisted or assisted digital platforms. In both cases, Know Your Customer (KYC) verification is mandatory, and PoPs forward the verified details for account activation.

Central KYC (CKYC) Streamlines Onboarding

Applicants can now use their 14-digit CKYC number, which stores verified identity details centrally, eliminating the need to submit fresh KYC documents. PoPs must obtain consent to retrieve CKYC information. Subscribers then provide additional details like birth, occupation, income, nominee information, investment preferences, and declarations under FATCA and CRS. PoPs must upload verified data to the CKYC registry within 10 days.

Alternative KYC via Banks or Post Offices

Individuals without CKYC can use their existing bank or post office KYC records. With consent, PoPs can access these records directly, confirm or update details, and upload them to the CKYC registry, similar to the CKYC route.

Compliance and Inclusive Services

PoPs are required to follow Prevention of Money Laundering standards, maintain subscriber records, verify employer details for payroll-linked cases, and offer inclusive services like video-based KYC for persons with disabilities. They must also educate subscribers on NPS benefits and investment options.

Read More, NPS Rule Changes From October 1: 100% Equity Option, Flexible Withdrawals, and Multiple Schemes!

NPS Overhaul: New Pension Models Proposed

PFRDA has suggested 3 new NPS models to ensure predictable retirement income:

1. Systematic Withdrawal Plan with annuities for flexible payouts.
2. Target Pension indexed to inflation with dual-pool corpus management.
3. Pension Credits offering fixed market-linked payouts with secondary market options.

Conclusion

The new PFRDA guidelines and proposed reforms make NPS registration simpler, more accessible, and subscriber-friendly, offering flexibility, inflation protection, and assured retirement income.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.