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New Pension Scheme ‘VATSALYA’
July 27 , 2024
121 days
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- The finance minister introduced a new type of pension scheme for minors where parents can contribute to their children's future retirement.
- The new pension scheme for minors is called the NPS Vatsalya.
- This regular contribution can made by parents or guardians.
- The scheme will get converted to regular NPS once the child attains the age of 18.
- The National Pension Scheme (NPS) is a voluntary pension system for all citizens, including both residents and NRIs between the ages of 18 and 70 years.
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