NPS Vatsalya Scheme: Finance Minister Nirmala Sitharaman launched the NPS Vatsalya Scheme, announced in Budget 2024-25.
NPS Vatsalya Scheme: The government has taken a significant step towards strengthening the financial future of the next generation. The scheme allows parents to open pension accounts for their children. An online platform will also be launched for easier subscriptions.
According to the Finance Ministry, minor subscribers will receive a Permanent Retirement Account Number under this scheme. Parents can invest in these pension accounts to build a sizable corpus for their children over time.
Annual investment of Rs 1,000
The NPS Vatsalya Scheme offers flexible investment options, allowing parents to contribute ₹1,000 annually. It is accessible to families across all income groups.
This initiative aims to secure the financial future of children and is a key step in India’s pension system, managed by the Pension Fund Regulatory and Development Authority (PFRDA). The launch of this scheme reinforces the government’s commitment to promoting long-term financial security for all.
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