PhonePe users can now open an NPS account in the app using existing bank-verified KYC, with the Tatkal facility also rolling out on BHIM.
PhonePe has begun offering a digital route into India’s National Pension System, allowing users to open an account with an initial contribution of Rs 250 and without submitting fresh documents or completing a new know-your-customer check, according to the company. The service, called Tatkal NPS, is designed to streamline pension enrolment by using bank KYC details already verified through a one-time password, or OTP.
The process is completed inside the PhonePe app. Users can pick a linked bank account, make the first contribution through PhonePe UPI and receive a Permanent Retirement Account Number, or PRAN, which is the unique identifier used to manage an NPS account. PhonePe said it has partnered with banks for the launch and plans to widen access to additional banking institutions over time.
Other reports suggest the same Tatkal NPS facility is also being rolled out on the BHIM Payments App, reflecting a broader push to bring pension account opening into everyday digital payment platforms. Moneycontrol said the BHIM version is available to eligible Indian citizens aged 18 to 85 and can be completed entirely online using existing bank-verified KYC rather than fresh paperwork or a branch visit. DailyConnects likewise reported that the BHIM service is being delivered by NPCI BHIM Services Limited, a subsidiary of the National Payments Corporation of India.
The simplified onboarding comes as pension providers and payment platforms try to make long-term savings more accessible to retail users. Under the NPS framework, contributions are invested in market-linked funds managed by regulated pension fund managers, and tax benefits may be available subject to applicable rules, according to Moneycontrol and Mint. That said, potential subscribers still need to assess the investment risks and withdrawal conditions attached to the scheme before signing up.
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