Finance Minister Nirmala Sitharaman to Launch NPS Vatsalya Scheme

New Delhi- The Union Finance Minister, Nirmala Sitharaman, is all set to launch the NPS Vatsalya scheme on September 18, 2024. The launch will be held in New Delhi and children will also be taken part in it.

NPS Vatsalya offers flexible contributions and investment options, allowing parents to make investment of Rs. 1,000 annually in the name of the child, thus making it accessible to families from all economic backgrounds. Under this scheme, parents will be able to save money for their children's future by investing in a pension account. According to the government, this will not only help in providing financial security to the children but also benefit them from the power of compounding.

Under the NPS Vatsalya scheme, parents will be able to invest Rs 1,000 annually in the name of their children. The government says that this investment will provide them with long-term financial security.

Finance Minister Nirmala Sitharaman will launch the online platform for subscribing to NPS Vatsalya. Apart from this, a video conference will also be organized for the launch. During this, the distribution of PRAN membership cards to the new minor subscribers will also be done.

According to the government, this scheme will start early to secure the financial future of children. This is an important step in India's pension system.

The government says that this scheme will be run by the Pension Fund Regulatory and Development Authority (PFRDA). The launch of this scheme is in line with the government's commitment to promoting long-term financial planning and security for all.