Key Points
The scheme, announced during the Budget in July 2024, is designed for parents and guardians to make long-term investments for their minor children...
Union Finance Minister Nirmala Sitharaman is introducing a new scheme under the National Pension System (NPS) called NPS Vatsalya...
Managed by the Pension Fund Regulatory and Development Authority (PFRDA), NPS Vatsalya aims to provide a secure future for minors by allowing them to accumulate retirement savings...
The NPS Vatsalya scheme is open to all Indian citizens and Non-Resident Indians (NRIs), enabling them to open accounts for their minor children...
During the Budget 2024, Finance Minister Sitharaman explained the scheme, saying, NPS-Vatsalya, a plan for contributions by parents and guardians for minors, will be introduced..
