NPS vatsalya pension scheme designed for minors, announced by Finance Minister Nirmala Sitharaman in the Union Budget 2024, allows parents to contribute to their children's future by investing as little as ₹1,000, making it accessible to families of all backgrounds.
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| Nps Vatsalya Pension Scheme in Hindi |
Nps Vatsalya Pension Scheme in Hindi
Parents can now use the NPS Vatsalya scheme, a pension scheme designed for minors, to secure their children's future.
The scheme has already been implemented at 75 locations across the country, allocating over 250 PRAN (Permanent Retirement Account Number) to its young subscribers.
How Much Savings Can You Make with NPS Vatsalya Scheme for Retirement?
The following is how much you can save for your child with NPS Vatsalya, according to a post on X (formerly Twitter) by the Press Information Bureau Chandigarh:
- Annual Contribution: ₹10,000
- Investment Period: 18 years
- Expected Corpus at 18: ₹5 lakhs @ 10% Rate of Return (RoR)
- Expected Corpus at 60:
- @ 10% RoR: ₹2.75 crores
- @ 11.59%* RoR: ₹5.97 crores
- @ 12.86%# RoR: ₹11.05 crores
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