The Union Government launches the NPS Vatsalya Scheme
Aimed to promote financial literacy and savings among youth
IH News Desk
NATIONAL, September 18, 2024: The NPS Vatsalya Scheme, launched by Union Finance Minister Wednesday, aims to promote financial literacy and savings among India's youth. This scheme allows parents to invest in a pension account for their children's future, ensuring long-term wealth through the power of compounding.
It offers flexible contribution and investment options, allowing parents to make annual investments of Rs 1,000 in their child's name. The scheme will be administered by the Pension Fund Regulatory and Development Authority (PFRDA).
The launch of NPS Vatsalya demonstrates the government's commitment to promoting long-term financial planning and security for all.
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