NPS Vatsalya Scheme (2024)
The NPS Vatsalya Scheme, introduced in July 2024, allows parents and guardians to start saving for their child’s future through the National Pension System. Open to Indian citizens and NRIs, the scheme offers flexible contributions starting from ₹1,000 per year and investment options, including equity and debt allocations. The account matures when the child turns 18, converting to a regular NPS Tier I account. Partial withdrawals are allowed after three years for education and medical needs. The scheme promotes early financial planning, taking advantage of compounding growth, and aims to secure long-term financial stability for children.
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