❖ The finance minister introduced a new type of pension scheme for minors where parents can contribute to their children's future retirement.

❖ The new pension scheme for minors is called the NPS Vatsalya.

❖ This regular contribution can made by parents or guardians.

❖ The scheme will get converted to regular NPS once the child attains the age of 18.

❖ The National Pension Scheme (NPS) is a voluntary pension system for all citizens, including both residents and NRIs between the ages of 18 and 70 years