♦ Finance Minister Nirmala Sitharaman launched the NPS Vatsalya scheme in New Delhi on 18 September 2024. The scheme was announced in the Union Budget 2024-25. This scheme will allow parents to save for their children’s future by investing in a pension account. Parents can subscribe to NPS Vatsalya online or visiting a bank or post office.
What is NPS Vatsalya?

♦ NPS Vatsalya is a specialised variant of the National Pension System (NPS) tailored for minor children. Parents or legal guardians can open and contribute to this account until the child attains the age of 18. Once the child reaches adulthood, the account can seamlessly transition into a standard NPS account.