AMN
In pursuance of the announcement in the Union Budget 2024-25, Finance Minister Nirmala Sitharaman will launch the NPS-Vatsalya scheme on September 18 in New Delhi. Finance Ministry said that during the event, Ms Sitharaman will also launch an online platform for subscribing to NPS Vatsalya, release of scheme brochure, and distribute Permanent Retirement Account Number (PRAN) cards to new minor subscribers.
The NPS Vatsalya scheme will allow parents to save for their children’s future by investing in a pension account and ensuring long-term wealth with the power of compounding. The scheme offers flexible contributions and investment options, allowing parents to invest Rs. 1,000 annually in the name of the child.