PAN replaces Aadhar Card for NPS account

Now, you will not get pension without PAN card. PFRDA has started online registration for its new members under the National Pension System (NPS) scheme. PAN card has been made mandatory for the verification of new members. Hemant G Contractor, PFRDA Chairman, has said that PAN card will be used instead of Aadhar card for opening of new account online. He said that Aadhar card based NPS account scheme was started on a trial basis but after Supreme Court’s order on Aadhar card, this trial period has been stopped. He said that with PAN card, customers can check their account on NPS trust website.

PFRDA has partnered with six bank viz. Bank of Travancore, State Bank of Patiala, Oriental Bank of Commerce, United Bank of India, South Indian Bank and Syndicate Bank. People having net banking facility with these banks can open NPS account online. According to PFRDA stats, more than 93 lakh people are linked with NPS scheme. But the shock here is to know that only 17 crore people have PAN card out of a population of 125 crore in the country. Without PAN card, people from the unorganized sector will face problem in joining the NPS scheme.

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