Recently launched by the Indian Government NPS Vatsalya scheme has been started. This is a kind of pension scheme for children which makes their future secure. This is a kind of long term pension scheme which has been announced in the Union Budget 2024 to secure the future of children.
Parents can invest for their child till the age of 18 years
It has been informed that in this scheme, parents can invest in the name of their children till the age of 18 years. After the children turn 18 years old, this account will work like a regular NPS. In this scheme, parents can invest at least thousand rupees annually. No maximum limit has been fixed on this scheme.
There are many good schemes for children in which parents can easily invest to secure their future. The advantage of long term investment is that children get a large amount of money in times of need after a long period. This saves them from facing problems in studies.
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