Delhi HC Rejects Plea Against BCCI Team Named 'Team India', Terms it a Sheer Waste of Time  ||  Bombay HC: No Absolute Right for Citizens to Access Public Offices  ||  Delhi HC: Suit Withdrawal After Compromise Doesn’t Result in Executable Decree  ||  Delhi HC: ITSC Abolition Doesn’t Void Settlement Pleas Filed Between Feb 1–Mar 31, 2021  ||  Rajasthan HC: State Must Set Up Trauma Centre, Art Institute; Temple Board Can Only Assist  ||  Kerala HC: LIC Cancer Cover Starts From First Diagnosis After Waiting Period, Not Expert Opinion  ||  Kerala HC: Spouse’s Ill Treatment of Children is Cruelty under Section 10(1) Divorce Act  ||  Supreme Court Acquits Chennai Man Sentenced to Death in Child Rape-Murder Case  ||  SC: Only Disclosure Leading to Weapon Recovery Admissible under Section 27 Evidence Act  ||  Supreme Court Orders Strict Enforcement on Helmets, Lane Discipline & Headlight Use    

New Pension Scheme 'Vatsalya' Announced for Minors- (Press Information Bureau) (23 Jul 2024)

MANU/PIBU/0545/2024

Civil

A new pension scheme named 'Vatsalya' has been proposed for minors by Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman in the Union Budget 2024-25 tabled in Parliament today.

A contributory pension scheme, this will have contribution by parents and guardians. On attaining the age of majority, the plan can be converted seamlessly into a normal NPS account.

The Union Minister also announced that the Committee to review the NPS has made considerable progress in its work. She expressed satisfaction that the Staff Side of the National Council of the Joint Consultative Machinery for Central Government Employees have taken a constructive approach. "A solution will be evolved which addresses the relevant issues while maintaining fiscal prudence to protect the common citizens", the Minister further informed.

Tags : VATSALYA   PENSION SCHEME   NPS ACCOUNT  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved