NPS Vatsalya Scheme
On 18th September, 2024, Union Finance Minister unveiled the NPS Vatsalya scheme, a pioneering initiative allowing parents to invest in pension accounts specifically designed for their minor children, ensuring a secure financial future.
Objective
- To provide a savings vehicle for parents to invest in their children's future, allowing for financial security through a pension account.
Key Features
- Minimum Contribution: To open an NPS Vatsalya account, parents must make an initial contribution of Rs 1,000, followed by an annual contribution of the same amount.
- Automatic Conversion: Accounts for children under 18 will transition to regular NPS accounts upon the child reaching adulthood ....
Do You Want to Read More?
Subscribe Now
Take Annual Subscription and get the following Advantage
The annual members of the Civil Services Chronicle can read the monthly content of the magazine as well as the Chronicle magazine archives.
Readers can study all the material before the last six months of the Civil Services Chronicle monthly issue in the form of Chronicle magazine archives.
Related Content
- 1 Jan Aushadhi Diwas 2025
- 2 Poshan Abhiyaan: Nourishing the Nation
- 3 PM Surya Ghar Muft Bijli Yojana Achieves Historic Milestone
- 4 PM-YUVA 3.0: Mentoring Young Authors
- 5 Regulations to Operationalise UPS Notified
- 6 Restructuring of Skill India Programme
- 7 Government Extends Jal Jeevan Mission (JJM) till 2028
- 8 Prime Minister Dhan-Dhaanya Krishi Yojana (PMDKY)
- 9 Swavalambini: Women Entrepreneurship Programme for the Northeast
- 10 Government Extends PM-AASHA Scheme
