NPS Vatsalya Scheme: Finance minister Nirmala Sitharaman The NPS Vatsalya programme is scheduled to be launched on Wednesday, fulfilling a promise made in the Union. Budget 2024-25. The launch event will include introduction of an online platform for NPS Vatsalya subscriptions, launch of a scheme brochure and distribution of Permanent Retirement Account Number (PRAN) cards to underage subscribers.
NPS launch events nationwide
To mark the occasion, simultaneous NPS Vatsalya events will be held at nearly 75 locations across India. Other locations will join via video conferencing and will also distribute PRAN cards to new minor subscribers in those areas. NPS Vatsalya aims to help parents build a secure financial future for their children through a pension account, leveraging the benefits of compounding over time. The scheme offers flexible contribution options, with a minimum annual investment of Rs 1,000, making it accessible to families from diverse economic backgrounds. This initiative represents a significant advancement in India’s pension system, emphasizing early financial planning and security for future generations. Administered by the Pension Fund Regulatory and Development Authority (PFRDA), NPS Vatsalya underlines the government’s dedication to enhancing long-term financial stability for all.(With PTI inputs)
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