Nirmala Sitharaman launches NPS Vatsalya scheme: Know eligibility, application process and more

Union Finance Minister Nirmala Sitharaman has launched the NPS Vatsalya scheme, allowing parents to open pension accounts for their minor children. The scheme, announced in the 2024-25 Union Budget, aims to provide long-term financial security for children, with the option to convert accounts to regular NPS upon turning 18. Managed by PFRDA, NPS Vatsalya offers flexible contributions and competitive returns, supporting future pension savings for young subscribers.