NPS VATSALYA SCHEME
NPS VATSALYA SCHEME
IN NEWS
- National Pension System Vatsalya (NPS Vatsalya) scheme, a pension scheme for minors, has been launched.
ABOUT NPS VATSALYA SCHEME
- Eligibility: All minor citizens (age below 18 years).
- On attaining the age of majority, plan can be converted seamlessly into a normal NPS account.
- Regulation and Administration: Pension Fund Regulatory and Development Authority (PFRDA).
- Objective: Promoting long-term financial planning and security, inculcate habit of savings and dignified life in old age.
- Subscriber Contribution:
- Minimum: Rs 1000/- per annum.
- Maximum: No limit.
- PFRDA will provide multiple investment choices to subscribers such as government securities, corporate debt, equity etc.