Quick Summary
Union Finance Minister Smt. Nirmala Sitharaman launches NPS Vatsalya in New Delhi today NPS Vatsalya is an important constituent towards fulfilling vision of the Prime Minster, Shri Narendra Modi, in creating Viksit Bharat@2047: Smt. SitharamanNPS Vatsalya scheme is a significant step by the Government towards inclusive economic development: MoS Finance Shri Pankaj ChaudharyRecent reforms have expanded scope of pension coverage, aiming to create a more inclusive system through more products: DF
Daily Limit Reached
You have reached your daily limit of 2 Free News
Subscribe to CCI PRO for unlimited access
Why Upgrade to CCI PRO?
- No Ads
- WhatsApp Community
- Daily E-Newsletter
- Unlimited News Access
- Profile Visitors
- Link Social Profiles
- Featured Job Posts
- Pro Badge
- Expert GST Guidance
- Unlimited Forum Replies
- Download Content in PDF
1 Year PLAN
1999
(Excl. of GST ₹359)
BEST VALUE
2 Years PLAN
3499
(Excl. of GST ₹629)
View all CCI PRO benefits
Already a PRO member? Login here for an ad-free experience.
FAQ :
NPS Vatsalya is a new pension scheme launched by the Indian government for minors, aimed at securing their financial future and encouraging early savings.
All minor citizens (under 18 years of age) are eligible. The account is opened in the minor's name and operated by a parent or guardian.
Accounts can be opened through various Points of Presence regulated by PFRDA, including major banks, India Post, Pension Funds, and the online platform (e-NPS).
The minimum contribution required is £1000 per annum, with no limit on the maximum contribution.
Upon attaining the age of majority, the NPS Vatsalya plan can be seamlessly converted into a normal NPS account.
PFRDA will offer multiple investment choices, allowing subscribers to invest in government securities, corporate debt, and equity in various proportions based on their risk appetite.
CAclubindia
