NPS Vatsalya Scheme: The Union Finance Minister will also launch an online platform for subscribing to NPS Vatsalya, release of scheme brochure, and distribute Permanent Retirement Account Number (PRAN) cards to new minor subscribers.

NPS Vatsalya Scheme Overview: Finance Minister Nirmala Sitharaman has introduced the NPS Vatsalya scheme, allowing parents to open pension accounts for their minor children. Aimed at securing long-term financial stability, the scheme converts to a regular NPS account when the child turns 18.

Finance Minister Nirmala Sitharaman on Wednesday (September 18, 2024) launched the NPS Vatsalya scheme, which will allow parents to save for their children’s future by investing in a pension account.

NPS Vatsalya Scheme: Through the NPS Vatsalya Yojana, parents can invest on behalf of their children until they reach the age of 18. The primary goal of the scheme is to build a financial corpus for the children over the long term, supporting their future needs and goals.

The government has launched a new scheme under the National Pension System (NPS) aimed at financially securing the future of children.

New Delhi: Union Minister for Finance and Corporate Affairs Nirmala Sitharama, launched the National Pension System Vatsalya (NPS Vatsalya), a pension scheme designed for minors, on Wednesday. Announced in the Union Budget 2024-25 on July 23, 2024, the scheme is an extension of the existing NPS to include children. Sitharaman also introduced an online platform […]