Union Finance Minister Smt. Nirmala Sitharaman to launch NPS Vatsalya Scheme on September 18, 2024.

NPS Vatsalya Scheme Launch Date: September 18, 2024, by Union Finance Minister Nirmala Sitharaman in New Delhi. Purpose: To promote early financial planning for children through a pension account. Key Features PRAN Cards: Permanent Retirement Account Number (PRAN) cards will be distributed to minor subscribers. Online Platform: An online platform for subscribing to NPS Vatsalya will be launched. Simultaneous Events: Nearly 75 locations across India will join the main launch virtually. Benefits Parental Contributions: Parents can contribute a minimum of Rs. 1,000 annually in the name of the child.

Investment Flexibility: Offers flexible contributions and investment options. Wealth Creation: Ensures long-term wealth growth through the power of compounding. Inclusive: Accessible to families from all economic backgrounds. Administration The scheme will be managed by the Pension Fund Regulatory and Development Authority (PFRDA). Significance Early Financial Security: Promotes an early start in securing the financial future of children. Government Commitment: Reflects the government’s dedication to long-term financial security for future generations.