New Delhi, Oct. 28 -- Tech and payments platform PhonePe has launched 'Tatkal NPS' on its platform, in partnership with leading banks and lenders to enable micro-investments towards retirement planning for users. The initiative enables millions of users to open a government-backed pension account with micro-contribution starting at Rs.250.

It enables 100% digital, paperless National Pension System (NPS) account opening in three steps and eliminates the need for fresh document uploads or KYC, instantly generating a Permanent Retirement Account Number (PRAN).

Tatkal NPS caters to a number of users, including first-time planners, millennials, and Gen-Z. Developed by the Pension Fund Regulatory and Development Authority (PFRDA), the facilit...