New NPS scheme for minors announced in budget 2024: Parent can plan pension for their kids which will be transferred to them once they attain majority

New NPS Scheme for Minors: NPS in Budget 2024: Budget 2024 introduced the National Pension Scheme for Minors, known as NPS Vatsalya. This scheme will transition to a regular NPS once the child reaches adulthood, i.e., at 18 years old.