PhonePe, Bharat Connect Partner To Launch Easy Contributions For NPS

New Delhi: PhonePe on Wednesday announced the launch of contributions to NPS (National Pension System) as a new savings category under Bharat Connect (earlier known as BBPS), on its platform.

With this launch, PhonePe enables millions of users to now make seamless, secure, and easy contributions to their NPS account through the PhonePe app.

NPS is a highly effective tax-saving instrument for personal retirement planning. This scheme not only provides significant tax savings but also comes in handy as a retirement corpus, thus helping users secure their financial future.

Previously, users could only make contributions towards their NPS accounts through the websites of PFRDA, NSDL, CAMs, KFintech, and Banks.

However, the launch of this feature will allow users to contribute conveniently using the PhonePe app, allowing previously underserved populations to experience the ease and advantages of digital payments.

“Integrating the NPS category on the Bharat Connect platform is a significant step towards enabling individuals to manage their investments for retirement planning seamlessly,” said Noopur Chaturvedi, CEO, NPCI Bharat BillPay Limited.