NPS which stands for National Pension Scheme. This NPS scheme has its complete name i.e. NPS Vatsalya Scheme 2024. The Government of India introduced a scheme specially for the Minors of India. The scheme is announced By the Finance Minister of India Mrs. Nirmala Sitharaman.
The announcement of this scheme has been made during the announcement of the Financial Budge 2024. The date of introduction of this Pension scheme is on 18th September 2024. Under this scheme, the parents of the eligible Minor children will have to contribute to pay some amount to in the account of NPS and secure their Future. With the help of this scheme, they can raise the retirement fund under the scheme.
After the announcement of this scheme in India, whole of the parents tried to find the best to best information about this scheme so that they all could understand the real facts and motive behind the scheme. To learn more about this NPS Vatsalya Scheme you need to go through this blog where the eligibility Criteria, How to apply Online and benefits are going to be mentioned.
NPS Vatsalya Scheme 2024
During the budget session of India in 2024 the Financial Minister of India introduced this new scheme which is specially designed for the Minor of the Nations. The scheme is Name of National Pension Scheme for their Minor Kids. The scheme can be started by any of the parents and guardians of the minor child. To avail of the benefits of this scheme, every parent and guardian will have to open the NPS account in the name of the Minor Child and have to submit the amount in this account every month.
एनपीएस वात्सल्य योजना भारत सरकार द्वारा शुरू की गई एक योजना है जो की मुख्य रूप से भारत के बच्चों के लिए शुरू की गई है. भारत के बच्चों की आर्थिक स्थिति को मजबूत करने के लिए सरकार द्वारा नेशनल पेंशन स्कीम के अंतर्गत इस योजना को शुरू किया गया है. इस योजना के अंतर्गत माता-पिता बच्चे के नाम पर काम से कम ₹1000 सालाना से निवेश से शुरू कर सकते हैं. इस योजना को शुरू करने का मुख्य उद्देश्य भारतीय बच्चों के भविष्य को सुरक्षित करना है एवं बच्चों को बचत कैसे करें उसके प्रति जागरूक करना है. इस योजना का मुख्य लाभ भारत के लगभग 35% बच्चों को मिलेगा जिनकी आयु 18 वर्ष से कम है. इस योजना से जुड़ने के लिए आप अपने किसी भी नजदीकी बैंक, डाकघर अथवा पेंशन सेवा प्रदाताओं के पास जाकर इसे खोल सकते हैं. एनपीएस वात्सल्य मैं खाता खोलने के लिए मुख्य रूप से जरूरी दस्तावेजों में बच्चे का जन्म प्रमाण पत्र, माता-पिता का पहचान पत्र, पासपोर्ट साइज फोटोग्राफ, माता-पिता के स्थाई निवास का प्रमाण पत्र एवं अन्य कुछ दस्तावेजों की आवश्यकता होगी। इस योजना के अंतर्गत आप 18 वर्ष तक बच्चे के लिए इस खाते में पैसा जमा कर सकते हैं. जब बच्चा 18 वर्ष का हो जाएगा तो यह अकाउंट (एनपीएस वात्सल्य) बदलकर रेगुलर एनपीएस अकाउंट बन जाएगा। इसके बाद बच्चा खुद इस खाते में अपनी मर्जी से निवेश कर सकता है. अगर आप भी अपने बच्चों के उज्जवल भविष्य के लिए किसी योजना में पैसे निवेश करना चाहते हैं तो केंद्र सरकार की इस योजना में आप उसके भविष्य को सुरक्षित कर सकते हैं. अगर इस योजना से जुड़ा कोई भी प्रश्न आपके मन में है तो अपनी निसंकोच होकर हमें नीचे कमेंट बॉक्स में पूछ सकते हैं.
| Scheme Name | NPS Vatsalya Scheme |
| Scheme By | Indian Government |
| Luahced By | Finance Minister Nirmala Sitharaman |
| Motive | Provide financial security To the Younger generation and Plan for their Retirement Pension |
| Contribution Start from | Rs. 1000/- Yearly |
| Contribution By | Parents and Child Guardians |
| Beneficiary | Children Age less than 18 Years, having PAN Card |
| Amount Lock-in Period | 25% Windwrall Alloed After 3 Years |
| Interest Rate | 11.59% Approx |
| Official Website | enps.nsdl.com |
The same amount can be submitted by the guardian till the kids attain the age of 18 years. The minimum amount that you can submit for this account is about Rs.1,000 per year but the maximum amount has no limit. So decide the amount according to your financial status. This amount is also like the retirement savings of the kids. The government who taking all the concerned about this scheme is Central Government of India. With the help of this amount, the kids can support themselves. This is also one of the very unique ideas about to get Retirement options amount to the guardian to provide financial security to their kids.
Investment Plans Under NPS Vatsalya Scheme
| Default Choice | MLF (Moderate LifeCycle Fund) 50% Equity |
| Auto Choice | ALF 75 Percent Equity, MLF 50% Equity and CLF 25 Percent Equity |
| Active Choice | Here parents can decide the allocation of Funds |
Features of NPS Vatsalya Yojana
So here I am going to introduce some of the special features of the scheme, which every parent should have to know before investing money in this scheme.
- Every guardian and parents first of all need to open this NPS account in the name of the Minor child, then the child will become the sole beneficiary of the scheme.
- After Opening the account, the same account can be operated by the Guardian and deposit the amount till the majority age of the kids.
- Once the account was opened and operated then the CRA ( Central Recordkeeping Agency) also issued the Unique Pension Retirement Account Number in the name of the beneficiaries.
- When the account holder getting the age of 18 years old, the account is still operational and then the same is transferred to the NPS Tier 1 Account.
- After the 3 months of attaining the age of majority, the Fresh KYC number also be given to the kid.
- The Kids can also operate their account when they get 18 years old and get their KYC number.
- The Minimum amount that you all need to deposit to the account of NPS is about Rs.1,000 per year but the maximum amount has no any limit.
Eligibility Criteria For NPS Vatsalya
The next part of this scheme after knowing the features of the scheme is who is going to get the benefits of this scheme, its means in this section you will come to know about the eligibility Criteria of the scheme.
- The NSP Vatsalya scheme is providing benefits only to the minors of the Nation like all the Citizens of India having an age below 18 years.
- The Account can be opened and then operated by the parent and legal guardian on behalf of the benefit.
- The child whose name the account is open becomes the beneficiary and the person who opens the account will become the Nominee of the account.
- All the parents from all over India who have minor kids can be part of this scheme.
- This is the fresh investment scheme for the kids under which you all can provide the kids.
Documents Needed
- Guardian and Minor Aadhar Card.
- Birth Proof of the Minor.
- Scanned Signature of Parent.
- Address proof.
- Bank account Details.
NPS Vatsalya Scheme Apply
The steps to be part of this scheme are very easy. You can apply for this scheme through the official portal of the eNPS official websites and also through other institutions like India Post Office, Major Banks and pension Funds organizations. You can also follow the process given below.
- So here I am going to give you tips to open an account of the NPS Vatsalya Scheme through its portal i.e. eNPS Website.
- Now on this portal down the home page have to click on Register Now and then you will get the link of NPS Vatsalya Minors.
- The Registration form and enter your first Guardian or Parents’ Details like Date of Birth PAN Number, Valid Contact Mobile Number and email ID and then click on Registration Begin.
- After clicking on this link to verify your details you will receive the One-time Password. Enter the same and click on the link Continue.
- Again enter the Minors and Guardian complete details by uploading the documents and confirming it.
- Also, choose the Contribution amount of Rs.1,000/-.
- Then the PRAN Number also be generated to the name of the NPS Vatsalya Account Holder.
NPS Vatsalya Scheme Interest Rate
| Return (50% Equity, 30% Corp Debt, 20% G-Sec) | 11.59% |
| Return (75% Equity, 25% G-Sec) | 12.86% |