Archive · 2 Oct 2026
PFRDA Targets 2-3 Crore New NPS Subscribers Through UPI
PFRDA wants many more people to join the National Pension System.
It hopes to add about 2-3 crore subscribers in the next two years.
A new service called NPS Tatkal is designed to make joining faster.
People can open an NPS account through a UPI app instead of completing a separate online or offline registration first.
The service will initially be available through NPCI’s BHIM UPI application.
Applicants need a KYC-verified account with one of the participating banks.
They must provide basic information and make a first contribution of at least ₹250.
This contribution generates a Permanent Retirement Account Number and activates the account.
The service is intended to help people in smaller cities and informal jobs save for retirement.
PFRDA aims to add about 2-3 crore National Pension System subscribers over the next two years.
Its NPS Tatkal scheme will allow new NPS accounts to be opened through UPI, beginning with NPCI’s BHIM UPI application.
Applicants can use a KYC-verified bank account and make an initial contribution of at least ₹250 through UPI.
Customers of State Bank of India, HDFC Bank, ICICI Bank, Axis Bank and IDFC FIRST Bank are currently eligible through BHIM.
PFRDA expects the digital process to expand pension coverage in tier-2 and tier-3 cities, including among informal-sector workers.
- Who
- The Pension Fund Regulatory and Development Authority, led by Chairperson S Ramann, is introducing the initiative.
- What
- NPS Tatkal will enable new National Pension System accounts to be opened and funded through UPI.
- When
- PFRDA announced the target on Thursday, with the report published on October 1, 2026; the subscriber goal covers the next two years.
- Where
- The service will initially operate through NPCI’s BHIM UPI application and is intended to expand coverage across tier-2 and tier-3 cities.
- Why
- PFRDA wants to make NPS enrolment faster and broaden pension coverage, especially among informal-sector workers and people in smaller cities.
- Subscriber target
- About 2-3 crore new NPS subscribers in two years
- Initiative
- NPS Tatkal
- Initial platform
- NPCI’s BHIM UPI application
- Minimum first contribution
- ₹250 through UPI
- Currently participating banks
- State Bank of India, HDFC Bank, ICICI Bank, Axis Bank and IDFC FIRST Bank
- Account requirement
- A KYC-verified bank account
- NPS structure
- A defined-contribution system in which retirement savings are invested in market-linked instruments
