NPS Vatsalya: NPS Vatsalya scheme has been started by the central government to secure the future of children. This scheme has been specially designed for children. In this scheme, parents will be able to invest annually for their child. After this, there will be a benefit on savings when the child turns 18. This scheme will benefit the pension of children at the retirement age.
How much can you invest?
For information, let us tell you that there is no maximum investment limit in this scheme of NPS. But you can invest at least Rs 1000. At the same time, the facility of partial withdrawal is also provided. Apart from this, there is also the benefit of pension. Let us tell you that when the son turns 18 years old, then the child can handle the scheme. Under this scheme, the fund can be converted into Tier-1.
In how many years does the scheme mature
Let us tell you that this scheme matures when the child turns 18 years old. To continue this scheme, investors can continue by doing eKYC. After KYC, it starts working like a normal NPS scheme. Apart from this, if you want to withdraw the entire fund after 18 years, then its rules are slightly different. If there is less than Rs 2.5 lakh in the fund, then permission for withdrawal is given. If the amount is more than Rs 2.5 lakh, investors can withdraw only 20 percent of the money. The rest of the amount is received as annuity.
Calculation of NPS
Many investors have this question in their mind regarding NPS Vatsalya that how to calculate investment and interest in it. If you invest 1 thousand rupees annually for your child, then you will get a return of about 10 percent in a year. After 18 years, you have to invest 2.16 lakh rupees. On this amount, about Rs 3 lakh 89 thousand 568 will be received as interest. When the child turns 18, a fund of more than 6 lakh will be received. At the age of 60, you will get a fund of Rs 3.83 crore.
You will get this much pension
If you take annuity from the scheme amount after 60, then you get 5 to 6 percent interest on it. In such a situation, after 60 years, the investor will get an annual interest of about 19 to 22 lakh rupees. At the same time, you will get one and a half lakh rupees as pension.
