NPS accounts can now be opened through the PhonePe and BHIM apps using UPI, PFRDA says

The Pension Fund Regulatory and Development Authority (PFRDA), the regulator of the National Pension System (NPS), said in a post on X on 6 October 2026 that “Tatkal NPS” is now available on the BHIM and PhonePe apps, according to a report by Upstox. This means an eligible person can open a new NPS account from inside either app and make the first contribution through UPI, the instant bank-to-bank payment system. Earlier reports described the facility as starting on BHIM only.

NPS is a voluntary, market-linked pension scheme, and returns are not guaranteed. NPS Tatkal is not a separate pension scheme. It is a digital route for opening an ordinary NPS account.

The steps as reported

The reports describe three steps:

1. Open the BHIM or PhonePe app and enter the details the onboarding screen asks for.
2. Choose a bank account.
3. Make the contribution through UPI.

After the details and the payment are verified, the subscriber receives a Permanent Retirement Account Number (PRAN), the unique number that identifies an NPS account. Upstox said screens and requirements may differ between PhonePe, BHIM and the participating bank.

What the reports say about eligibility and amounts

• KYC. KYC (know your customer) is the identity check banks carry out. Onboarding uses the KYC details linked to the person’s bank account, according to the reports. Outlook Money said no physical paperwork is required.
• Minimum first contribution. Outlook Money reported a minimum of Rs 250 for the first contribution through the BHIM route. Upstox’s article did not state an amount, and it is not confirmed in these reports whether the same minimum applies on PhonePe.
• Who can subscribe. Upstox said Indian citizens, non-resident Indians and Overseas Citizens of India aged 18 to 85 can subscribe voluntarily under the existing NPS framework, subject to KYC.
• Banks. Outlook Money said customers of only some banks can use the BHIM route at present. Upstox said not every bank account linked to a payment app may be eligible.

What was reported before

Before this facility, UPI apps such as BHIM and PhonePe could be used to add money to an NPS account that already existed, but not to open one, Outlook Money reported. PFRDA Chairperson S. Ramann said on 1 October 2026 that the regulator aims to add about 2 to 3 crore (20 to 30 million) NPS subscribers over two years, as reported by GKToday and by Upstox citing PTI. GKToday linked the NPS Tatkal facility to widening pension coverage in smaller cities and among private and informal-sector workers.

Basis of these figures

PFRDA’s announcement was a post on X dated 6 October 2026; this article could not open the post or a PFRDA press release, so every detail comes from the reports linked above: the 6 October date, the three steps, the eligibility and the PRAN from Upstox; the Rs 250 minimum and the earlier add-money-only position from Outlook Money; and the 1 October 2026 subscriber target from GKToday. Check the app and PFRDA for current terms. This article reports the facility and does not say whether any pension arrangement suits any reader.