Now you can make NPS contributions through PhonePe: Here's how
15 Nov 2024

PhonePe has announced a new feature, one that lets you contribute to the National Pension System (NPS) through its platform.

The service comes under the Bharat Connect category, previously known as BBPS.

NPS is a tax-efficient tool for personal retirement planning, providing huge tax savings and a retirement corpus.

Earlier, contributions could only be made through certain websites and banks.

New feature aims to simplify NPS contributions
User convenience

The introduction of this feature on PhonePe comes as a move to simplify the process of making NPS contributions.

It is aimed at providing a user-friendly and secure payment solution for millions of users.

This development comes especially handy for those who were previously unable to access digital payments due to lack of resources or knowledge.

How to use the new feature on PhonePe
User guide

To avail this new feature, users will have to tap 'View All' under the 'Recharges and Pay Bills' section on their PhonePe app home screen.

Following this, they will have to select 'National Pension System' under the 'Financial Services and Taxes' section.

After entering their 12-digit PRAN or 10-digit mobile number, date of birth, tier, and contribution amount, users can check NPS investment details and finalize the payment.