NPS Vatsalya

The Scheme Announced by Hon'ble Finance Minister in Budget 2024 named "NPS Vatsalya " who can join this scheme ?

• All Indian Citizens

• citizens till the age of 75

• Citizens up to 18 years

• Citizens from 18-60yrs of age

What is the minimum contribution required for "NPS Vatsalya "

• Rs. 1,000-/

• Rs. 500 -/

• Rs.1,500-/

• No Limit for minimum Amount

What is the primary benefit offered by NPS Vatsalya?

• a) Tax benefits on contributions

• b) Guaranteed monthly pension after retirement

• c) Financial security for a girl child's future

• d) Lump-sum withdrawal at maturity

Under "NPS Vatsalya" the account is opened in the name of:

• a) The parent

• b) The girl child

• c) The guardian

• d) The government

What is the lock-in period for NPS Vatsalya?

• a) Till the girl child reaches the age of 18

• b) Till the girl child reaches the age of 21

• c) Till the girl child gets married

• d) There is no lock-in period

How are the funds invested in NPS Vatsalya managed?

• a) By the parent/guardian

• b) By the government

• c) By professional fund managers

• d) By a designated bank

What are the tax benefits available under NPS Vatsalya?

• a) Tax deduction on contributions under Section 80C upto 50,000 Rs. under old Regime

• b) Tax exemption on the entire maturity amount

• c) Both a and b

• d) No specific tax benefits

Can partial withdrawals be made from NPS Vatsalya?

• a) Yes, for specific emergencies & After 3 years of lock in period

• b) No, partial withdrawals are not allowed

• c) Yes, after the girl child reaches the age of 18

• d) Yes, with government approval

What happens to the NPS Vatsalya Account when subscribers attains the age of 18 ?

• They will be no such effect.

• Seamless conversion into regular NPS Tier 1 Account (All Citizens)

• The account will get closed automatically.

Who is Sole Beneficiary Under "NPS Vatsalya"

• Guardian/Parents

• Minor only

• Legal Heir

• any one can be the Beneficiary.