NPS Vatsalya Scheme: Pension account for children, you can invest ₹1,000 annually; Know the details of the scheme..

NPS Vatsalya Scheme: The central government is going to take a major initiative towards making the next generation of the country financially strong and independent. Under this, pension accounts can be opened for children. Finance Minister Nirmala Sitharaman will launch the NPS Vatsalya Scheme today (18 September 2024) at 3 pm. This scheme was announced in the Budget 2024-25. An online platform will also be launched to subscribe to this scheme.

According to a statement issued by the Finance Ministry, along with releasing the details related to the scheme, Permanent Retirement Account Numbers will also be handed over to the minor subscribers joining the scheme. Under the NPS Vatsalya Scheme, parents will be able to invest in a pension account for the future of their children so that a large corpus can be created for them in the long term.

Investment of Rs 1,000 annually
According to the Finance Ministry, the NPS Vatsalya Scheme will provide flexible contributions and investment options, allowing parents to invest Rs 1,000 annually in the name of the child. It will be accessible to families from all economic backgrounds.

This new initiative has been launched to secure the financial future of children, which is an important step in India's pension system. The scheme will be run under the Pension Fund Regulatory and Development Authority (PFRDA). The launch of NPS Vatsalya reflects the Government of India's commitment to promote long-term financial schemes and security for all.