The NPS Vatsalya Scheme, announced in the Union Budget 2024-25, will be launched by Finance Minister Smt. Nirmala Sitharaman on September 18, 2024, in New Delhi. This initiative allows parents to invest in pension accounts for their children with flexible contributions starting at Rs. 1,000 annually, offering long-term wealth building through compounding.
The scheme is designed to secure the financial future of children and will be overseen by the Pension Fund Regulatory and Development Authority (PFRDA). Nearly 75 locations across the country will participate virtually in the launch, and PRAN cards will be distributed to minor subscribers.
