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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 Govern
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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.
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