NEW DELHI, Mar 5: Over 100,000 infants have joined the NPS Vatsalya scheme, launched in September last year, allowing parents to invest in pension accounts for their children, according to a senior official.
Deepak Mohanty, Chairperson of the Pension Fund Regulatory and Development Authority (PFRDA), stated on Wednesday that the organization is actively promoting outreach and increasing its network of intermediaries, as pension participation in India remains low.
“Newborns are eligible for NPS. I’m pleased to report that since the finance minister’s launch of this initiative last September, over 100,000 children have enrolled in NPS Vatsalya,” he mentioned during an event in the national capital.
He spoke at the Civis’ Public Consultation Awards 2025, an event hosted by the non-profit platform Civis.
With the NPS Vatsalya scheme, any minor citizen under the age of 18 can open an account. Parents or guardians can make a minimum monthly contribution of ₹1,000, with no upper limit on contributions.
“While we are making progress, there is still much work to be done,” Mohanty added, highlighting the number of subscribers across different pension plans, including the Atal Pension Yojana (APS), which boasts 70 million active subscribers. (PTI)
