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NPS Vatsalya

NPS Vatsalya

PWOnlyIAS

September 06, 2024

The government and pension regulator PFRDA plan to introduce NPS Vatsalya Soon.

What is NPS Vatsalya?

  • Purpose: It is part of the government’s broader effort to encourage early financial planning and savings, ensuring a secure financial future for the next generation.
  • NPS Vatsalya will be a modified version of the National Pension System (NPS) specifically designed for minors.
  • Features: 
    • Early Start: It will allow parents/guardians to open an NPS account for their children/wards and contribute regularly towards a savings pool until the minor turns 18.
    • Account Conversion: When the minor turns 18, the account can be converted into a regular NPS account. Then, the beneficiary will have the autonomy to manage the account and decide on the investment strategy.
    • Minimum Investment: Parents can start with a modest monthly contribution of Rs. 500 or an annual contribution of Rs. 6,000.

Enroll now for UPSC Online Classes

About Pension Fund Regulatory & Development Authority

  • PFRDA is an authority set up by the Government of India through the PFRDA Act 2013 
  • To promote old age income security by establishing, regulating and developing pension funds to protect the interest of subscribers to schemes of pension funds.

 

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Quick Revise Now !
AVAILABLE FOR DOWNLOAD SOON
UDAAN PRELIMS WALLAH
Comprehensive coverage with a concise format
Integration of PYQ within the booklet
Designed as per recent trends of Prelims questions
हिंदी में भी उपलब्ध
Quick Revise Now !
UDAAN PRELIMS WALLAH
Comprehensive coverage with a concise format
Integration of PYQ within the booklet
Designed as per recent trends of Prelims questions
हिंदी में भी उपलब्ध

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