You can also put money into UPI’s pension scheme, just remember the 9:30 am rule

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If you are investing in any pension scheme like Atal Pension Yojana, National Pension Scheme then this news is for you. Did you know that you can also pay the fee specified in your scheme through the UPI (Uniform Payment Interface)? Until now, subscribers of the pension scheme had the opportunity to pay through IMPS, NEFT, RTGS, but in August of this year, the APFR (Office for the Regulation and Development of the Pension Fund) launched its own UPI handle for the convenience of subscribers, through which you can make your payment through UPI. The NPS scheme is for organized sector workers and the APY (Atal Pension Yojana) scheme is for informal sector workers.

PFRDA UPI Descriptor: PFRDA.15digitVirtualAccount@axisbank. You can deposit your money into the scheme on the same day via D-remit. The PFRDA stated that the virtual D Remit account will be different from the associated permanent account number.

Many extras available

Not only that, subscribers can also set up automatic debit to add money to NPS. If they want to contribute every month, every three months, six months, or a year, they can enable automatic debits and the money will be automatically debited from their account at the due date. They will also have the option to change their amount and schedule for automatic debits. They will be able to enable or disable automatic debit at their discretion.

To do this, you need to create a virtual account number, after which you can make a UPI payment and make a deposit. Here we describe its process.

Log in to the eNPS website on the Central Registration Agency system.

Here you must enter your details to verify your Permanent Retirement Account number.

Once this OTP arrives at your email address or mobile phone number, enter it.

– Give your consent by selecting Level 1 or Level 2 for which you want to create a virtual account.

Now click “Create Virtual Account” and submit your request to Trustee Bank.

A confirmation number will appear for your request. A different number will be generated for different level types.

Enter the 15-digit virtual account number in the UPI descriptor. Then enter “PFRDA.15digitVirtualAccount@axisbank” to transfer funds.

Remember the state of 9:30 am

Before you contribute via UPI, there is one condition to be aware of. PFRDA has stated that a deposit made before 9:30 AM using this payment method will be considered an investment made on the same day, if you make a payment after 9:30 AM, then a deposit received after that time will be counted. be settled into investments the next day.



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