NPS Vatsalya is a pension scheme introduced under the National Pension System (NPS) specifically designed for minors, offering parents or guardians the opportunity to contribute to their child's future financial security. The scheme allows contributions until the child turns 18, after which the account can transition into a regular NPS account or a non-NPS plan. The key aim of NPS Vatsalya is to foster early financial planning and long-term savings, helping build a corpus for the child's future needs. While it doesn't offer additional tax benefits beyond those available under the standard NPS, it provides a valuable tool for creating a secure financial base for young individuals. Opening an NPS Vatsalya account can be done online through the NPS Vatsalya like major banks and India Post.
