The Pension Fund Regulatory and Development Authority (PFRDA) has made a 2-factor authentication (2FA) mandatory for logging into the central record-keeping agency (CRA) system, effective April 1, 2024. According to its March 15, 2024 circular, “The additional security layer, 2-Factor Aadhaar-based authentication, is being compulsorily implemented for all password-based users logging into the CRA system, effective from 1st April 2024.”

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The government and corporate nodal offices, including the principal accounts office, directorate of treasury & accounts, pay and accounts office, district treasury offices, and drawing and disbursement office, which handle NPS activities and have access to CRA, will have to comply with the order.

In its February 20 circular, PFRDA divulged its plans to ramp up security for NPS, stating that “To enhance the security measures in accessing the CRA system and safeguard the interests of subscribers and stakeholders, it has been decided to bring in additional security features through Aadhaar-based authentication for login to the CRA system.”

How Will It Benefit Users?

The 2-factor authentication (2FA) will reduce the risk of unauthorised access to the CRA system, safeguarding the interests of subscribers and stakeholders. The nodal offices will be required to map their Aadhaar details with NPS and use 2FA with an Aadhaar one-time password (OTP) to log in to the CRA system. The nodal and oversight offices and other stakeholders responsible for NPS-related tasks must link their Aadhaar with their respective CRA user ID for 2FA verification.

“All offices under the government sector and autonomous bodies are required to implement the necessary framework for the additional feature of Aadhaar-based login and authentication in the CRA system to carry out all NPS-related activities”, reads the circular.

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Also, the regulatory body has issued the standard operating procedure (SOP) for nodal offices, covering the step-by-step process to register an Aadhaar number with the Office User ID, viewing the mapping status, and procedures to access CRA with Aadhaar-based OTP.

NPS is open to all subscribers, whether government or corporate employees, resident Indians or non-resident Indians, and self-employed persons who can open an account with a CRA or a bank. With the number of NPS subscribers growing each year, the government is introducing additional security features to protect their interests.