Key Points
The NPS Vatsalya scheme, launched on September 18, 2024, by Union Finance Minister Nirmala Sitharaman, attracted 9,705 minor subscribers on its first day...
The scheme, overseen by the Pension Fund Regulatory and Development Authority (PFRDA), is part of the National Pension System (NPS) and aims to help parents and guardians begin retirement savings for their children from an early age...
Like the National Pension System, the scheme is designed to help parents, legal guardians, and even Non-Resident Indians (NRIs) secure the financial future of their children by building a retirement fund over time...
The scheme is accessible to all Indian citizens, and legal guardians can open NPS Vatsalya accounts for their minor children..
Offline process - Alternatively, you can open an NPS Vatsalya account through a registered Point of Presence (PoP), which includes major banks, India Post, Pension Fund companies, and other authorised entities..
