Opening a National Pension System (NPS) account has become easier with the introduction of NPS Tatkal on digital payment platforms PhonePe and BHIM. The Pension Fund Regulatory and Development Authority (PFRDA) announced the facility in October 2026, allowing eligible users to begin their retirement savings journey through apps they already use for UPI payments.
The initiative aims to simplify pension account registration and encourage more Indians to plan for their retirement without navigating a lengthy onboarding process.
What Is NPS Tatkal?
NPS Tatkal is a digital account-opening facility for the National Pension System. It is not a separate pension scheme but a simpler way to register for NPS and make the initial contribution through a supported payment app.
The facility could benefit first-time investors, self-employed individuals and people working in the informal sector who want a convenient way to start building retirement savings.
NPS is a long-term, market-linked retirement savings scheme regulated by PFRDA. Returns depend on investment choices and market performance, so they are not guaranteed.
How to Open an NPS Account Through PhonePe or BHIM
Eligible users can follow these three basic steps to begin the registration process:
Step 1: Open the App
Launch PhonePe or BHIM and look for the NPS Tatkal facility. The exact location of the option may differ between the two apps.
Step 2: Enter Your Details
Provide the information requested during registration and select an eligible bank account. Applicants must complete the applicable verification and onboarding requirements.
Step 3: Make the Initial Contribution
Complete the first contribution through UPI by following the instructions displayed in the app. Once the payment and registration checks are completed successfully, the subscriber receives a Permanent Retirement Account Number (PRAN), which uniquely identifies the NPS account.
Users should confirm the minimum contribution, participating bank eligibility and other requirements displayed during registration before proceeding.
Who Can Apply for NPS?
Under the NPS All Citizen Model, eligible Indian citizens, including non-resident Indians, and Overseas Citizens of India can voluntarily subscribe, subject to the applicable eligibility and KYC requirements. The general eligibility age is 18 to 85 years.
However, access to the new onboarding facility may depend on whether the applicant’s bank is supported by the relevant payment platform.
What Should Investors Know Before Investing?
NPS offers two main account types. Tier I is the primary retirement account, with withdrawals governed by applicable rules. Tier II is an optional investment account available to eligible Tier I subscribers and offers greater withdrawal flexibility.
Investors should understand the scheme’s charges, investment options, tax treatment and withdrawal conditions before opening an account. Digital registration makes the process more convenient, but it does not remove the long-term commitments and market risks associated with retirement investing.
Summary
PFRDA has introduced NPS Tatkal on PhonePe and BHIM, allowing eligible users to start a National Pension System account through a simple digital process. Applicants can open the app, enter their details, select an eligible bank account and contribute through UPI. The facility aims to expand retirement savings access, but investors should understand NPS rules and market risks before signing up.
