NPS Vatsalya: Empowering Financial Security for Minors through Long-Term Savings

The scheme launched on September 18, 2024, NPS Vatsalya is a pension scheme designed for minors below 18 years, to promote long-term financial savings. Just a minimum contribution of ₹1,000 annually, subscribers accumulate wealth via compounding, with a pension starting at age 60.

Accounts can be opened via Points of Presence (PoPs) or the e-NPS portal. The scheme ensures intergenerational equity, securing both young and older family members. The plan can be easily converted into a regular (NPS National Pension Scheme) account after 18 years of age.

For more details, read the comprehensive guide on NPS Vatsalya

Must Read – Timing Your Departure: How Relocating Abroad Affects Your Tax Liabilities in India