Planning for retirement as an NPS investor just got easier. The Pension Fund Regulatory and Development Authority (PFRDA) has introduced an impactful change for National Pension System (NPS) investors. You can now contribute to your NPS accounts effortlessly through the Bharat Bill Payment System (BBPS).
Why BBPS?
The Bharat Bill Payment System (now Bharat Connect), guided by the Reserve Bank of India and managed by NPCI, is a revolutionary platform that simplifies digital transactions. It’s designed to be user-friendly, ensuring a smooth experience for consumers across platforms like BHIM, UMANG, and popular UPI apps such as PhonePe, PayTM and GooglePay. BHIM and MobiKwik are live and more are in process.
Key Benefits for NPS Investors:
Convenience - Make your NPS contributions easily through multiple payment apps, using the robust and reliable BBPS infrastructure.
Visibility and Accessibility - BBPS enhances the accessibility of services across various digital platforms, making it simpler to manage your investments.
Cost Efficiency - Investors can enjoy competitive charges with BBPS:
Lumpsum and SIP Transactions - Rs. 0.50 per transaction.
SIP Mandate Registration - Rs. 4.00 (one-time).
Additional GST as applicable.
Streamlined Process:
BBPS initially supports lumpsum contributions, settled on a T+1 basis. Unsuccessful transactions are refunded within 5 working days, ensuring peace of mind.
A future enhancement includes systematic SIP contributions to streamline your investment habits, making it easier to achieve your retirement goals.
Step into the future of seamless, secure, and smart investing with BBPS and enjoy the convenience it brings to managing your NPS contributions. Embrace the ease and efficiency offered by modern technology, and make your investment process smoother than ever.
NPS Now Available on Bharat Bill Payment System
- Story by Bruhadeeswaran R.
