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NPS Vatsalya Scheme Launch Today: Finance Minister Nirmala Sitharaman will launch the NPS Vatsalya Scheme, a distinctive pension-cum-savings initiative, today, in alignment with the Budget 2024-25 announcements. As part of the event, she will also introduce an online platform for subscribing to the scheme and unveil a brochure outlining its features. Additionally, the Minister will present Permanent Retirement Account Number (PRAN) cards to select subscribers.

The launch will be marked by various events at 75 locations across the country, with the main event taking place in Delhi, according to a statement from the Finance Ministry on Monday.

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NPS Vatsalya Scheme Launch Today: What Is It?

Slated to be launched as part of the National Pension Scheme (NPS), the NPS Vatsalya will enable parents to safeguard the financial future of their children by investing money in the pension account. The scheme focuses on creating long-term wealth by utilising the power of compounding, an Economic Times report stated.

One of the most striking features of NPS Vatsalya is its appeal to all economic sections of society. The scheme offers diverse investment options and flexible contributions, starting as low as an annual investment of Rs 1,000 in the parent's NPS account.

The new scheme envisages an early investment start to secure the financial future of children, a significant step in India's pension system.

NPS Vatsalya Scheme Launch Today: PFRDA Will Regulate NPS Vatsalya

The scheme will be implemented under the supervision of the Pension Fund Regulatory and Development Authority (PFRDA). As per the official statement, the launch of NPS Vatsalya highlights the government's commitment to promoting long-term financial stability and security for all citizens.

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"This initiative is a significant move toward ensuring that future generations in India are more financially independent and secure," the statement added.

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