NPS Vatsalya Scheme 2024 Launch : Secure Your Child’s Future with Just Rs. 1,000!

Through contributions as low as Rs. 1,000 annually in NPS Vatsalya Scheme , families from all economic backgrounds can access long-term wealth-building opportunities

NPS Vatsalya Scheme : Secure Your Child’s Future with Just Rs. 1,000!

On September 18, 2024, Union Finance Minister Smt. Nirmala Sitharaman is set to launch the NPS Vatsalya Scheme in New Delhi. This new initiative is a key part of the Union Budget 2024-25, focusing on securing the financial future of children. Nearly 75 locations across the country will virtually join the main event through video conferencing, making it a national affair.

The NPS Vatsalya Scheme aims to encourage parents to invest in their children’s future by opening pension accounts in their name. Through contributions as low as Rs. 1,000 annually, families from all economic backgrounds can access long-term wealth-building opportunities. The scheme highlights the power of compounding, helping families plan for a secure financial future for their children.

In addition to the launch, an online platform for subscribing to the scheme will be unveiled, along with the release of a brochure and the distribution of Permanent Retirement Account Number (PRAN) cards to new minor subscribers. The scheme is managed by the Pension Fund Regulatory and Development Authority (PFRDA).

This initiative reinforces the Indian government’s commitment to promoting financial security, particularly for the younger generation, ensuring a more financially secure and independent future for the country’s youth.

Source : PIB