NPS Tatkal: PFRDA launches UPI-based instant NPS account opening
Why in the news
On 1 October 2026 the Pension Fund Regulatory and Development Authority (PFRDA) rolled out NPS Tatkal, which lets people open and fund a National Pension System account instantly through UPI. A revised charge structure for Points of Presence (PoPs) also took effect the same day.
Key facts
- NPS Tatkal: uses UPI and the KYC already held by the subscriber’s bank to open an account and make contributions quickly.
- Target: 3 crore additional subscribers over two years, mainly informal and private-sector workers.
- Banks enabled: SBI, HDFC Bank, ICICI Bank, Axis Bank and IDFC FIRST Bank.
- Subscriber base: NPS plus Atal Pension Yojana crossed 10 crore by September 2026; AUM is roughly ₹18 lakh crore.
- Outreach: Common Service Centres, banks and digital processes will be used.
Revised PoP charges (from 1 October 2026)
| Item | Charge |
|---|---|
| Onboarding, physical mode | ₹200 per PRAN (one time) |
| Onboarding, digital mode | ₹100 per PRAN (one time) |
| Recurring PoP charge | 0.20% per annum of AUM, via NAV |
| Minimum contribution | ₹250 at opening; ₹10 thereafter |
The changes come from PFRDA circular dated 28 August 2026. Subscribers onboarded through e-NPS who contribute through e-NPS or D-Remit pay no PoP charges, and dormant accounts are not charged.
About PFRDA
PFRDA is India’s pension regulator, overseeing the National Pension System. Its Chairperson is S Ramann. It also offers NPS Swasthya, which combines retirement savings with health cover of up to ₹30 lakh.
Exam angle
- NPS Tatkal is UPI-based instant NPS onboarding, launched 1 October 2026.
- Target: 3 crore new subscribers in two years.
- PoP charges: ₹200 physical, ₹100 digital, 0.20% of AUM a year.