NPS Vatsalya Scheme- With this scheme of the Modi government, pension arrangements for your children will be made, know full details

The Indian central government runs various schemes to help and empower the economically weaker people of its country, with the help of which the lifestyle of these people is to be uplifted, one such scheme is NPS Vatsalya Yojana which was launched by Finance Minister Nirmala Sitharaman on September 18, 2024, this initiative aims to provide a strong pension structure for children. Let's know complete information about this scheme-

Objective: This scheme aims to create a secure financial base for the children, ensuring their self-reliance when they grow up.

Pension accounts for children: Parents will get the opportunity to open pension accounts in the name of their children, which will contribute to their long-term financial stability.

Investment flexibility: Under the NPS Vatsalya scheme, parents can contribute as little as Rs 1,000 annually, making it accessible to families with diverse economic backgrounds.

Permanent Retirement Account Number (PRAN): Young subscribers joining the scheme will be allotted unique PRANs, facilitating a seamless investment process.

Online subscription platform: An online platform will be launched to streamline the subscription process for parents, enhancing convenience and accessibility.

Regulatory framework: The scheme will be administered under the Pension Fund Regulatory and Development Authority (PFRDA), ensuring transparency and credibility.