Chandigarh : Union Finance Minister launches NPS Vatsalya Scheme

● The scheme will serve as a ‘Gullak’ for the students and secure their future: FM

● Students from 75 locations joined the main launch in New Delhi via virtual mode

Chandigarh, September 18, 2024

Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman launched the NPS Vatsalya 

scheme today at Vigyan Bhawan in New Delhi. As part of the launch in New Delhi, NPS Vatsalya events 

were also organised simultaneously at nearly 75 locations throughout the country, that joined through 

video conference. The event in Chandigarh was held at two locations at New Public School, Sector 18 

and also at Government ITI College at Sector 28 today, where the students joined the live event from 

Delhi through virtual mode. As the event was focussed at children , a magic show and a nukkar natak 

were also held for engaging the children prior to the programme.

Senior Manager, Mr Piyush Walia facilitated the event from Lead District Manager Office of Punjab 

National Bank , Chandigarh at New Public School, Sector 18 and Hari Singh Gumra, Chief Lead District 

Manager Chandigarh arranged the live telecast of the event at Government ITI College at Sector 28, Chandigarh

About the Scheme:

NPS Vatsalya will allow parents to save for their children’s future by investing in a pension account and 

ensure long-term wealth with the power of compounding. NPS Vatsalya offers flexible contributions and 

investment options, allowing parents to make investment of Rs. 1,000 annually in the name of the child, 

thus making it accessible to families from all economic backgrounds.

This new initiative is designed to start early in securing financial future of children, marking an important 

step in India’s pension system. The Scheme will be run under the Pension Fund Regulatory and 

Development Authority (PFRDA).

The launch of NPS Vatsalya highlights the Government of India's commitment to promote long-term 

financial planning and security for all. It’s a big step toward making India’s future generations more 

financially secure and independent.