NPS Vatsalya Yojana- Invest in this government scheme to get rid of your future worries, know the full details

The Indian Central Government and State Governments run various types of schemes for the economically weaker people of the country, which aim to help these people and uplift their standard of living, in such a situation, if you are a working person, then you must be worried about retirement, for this, you want to invest in such a scheme which can give you good returns, so today we will tell you about the government's National Pension Scheme (NPS), let's know its benefits.

What is NPS Vatsalya Yojana?

On July 25, Finance Minister Nirmala Sitharaman unveiled Budget 2024, which included the launch of a new initiative: NPS Vatsalya Yojana. This scheme is an extension of the existing National Pension Scheme and is specially designed for minors.

Key Features of the NPS Vatsalya Scheme

Objective: The NPS Vatsalya scheme allows parents or guardians to invest in their children's future by opening an account in their name.

Eligibility: The scheme is open to all parents and guardians, including NRIs, OCI cardholders, and Indian citizens.

Account Conversion: On the child reaches the age of 18, the NPS Vatsalya account will automatically be converted into a regular NPS account.

Investment Requirement: Parents or guardians are required to make regular investments in the NPS Vatsalya account until the child turns 18.

Application Process

Detailed information on how to open an NPS Vatsalya account is limited.