NPS Vatsalya Scheme

Opening an NPS Vatsalya account provides the child with a head start on saving for retirement and offers valuable financial lessons from an early age. It instills the importance of financial planning and discipline. which can benefit the child throughout their life.

Upon reaching 18 years, the account automatically transitions into a regular NPS Tier I account, maintaining investment continuity with no additional administrative steps.

For the purpose of education of the subscriber, treatment of specified illnesses, disability more than 75%, or the reasons as may be specified by PFRDA in the interest of the minor subscriber under the regulations, the guardian shall be allowed to partially withdraw up to 25% of subscribers’ contribution excluding returns thereon, after a minimum of 3 years from the date of opening of account, for maximum three times till the subscriber attains 18 years of age. Such facility shall be made available on a declaration basis.

Any minor who is a Citizen of India is eligible for opening account under the scheme, until attaining the age of eighteen years.

The account should be opened by a natural or legal guardian in the minor's name, as they will operate the account exclusively for the benefit of the minor.

If the guardian is court-appointed, they must submit a copy of the court order confirming the guardianship and KYC documents.

The guardian must comply with KYC norms as per the Pension Fund Regulatory and Development Authority (PFRDA) requirements.

Online

Offline

Step 1: Visit the NPS Trust Website https://npstrust.org.in

Step 2: On the home page click, “Open NPS Vatsalya”

Step 3: Subscriber will be directed to the page where the choice of any of the three CRAs can be made.

Step 4: On selecting the CRA, subscriber needs to enter the basic details of the Minor and the Guardian and complete OTP authentication.

Step 5: KYC details of the guardian such as Name, Date of Birth, Gender, Address, and Photo will be fetched from UIDAI database or CERSAI database and rest of the details to be filled. Proof of Date of Birth of minor should be uploaded.

Step 6: FATCA details and declaration to be entered and the choice of Investment Option should be made.

Step 7: Details to be verified through OTP authentication through email and mobile number.

Step 8: Initial contribution amount of Min Rs 1000/- to be made

Step 9: PRAN will be generated after successful payment.

The Aadhaar Card / PAN Card / Driving License of the guardian.

Date of Birth Proof of Minor (i.e., Birth certificate of the minor, School leaving certificate / Marksheet issued by Higher Secondary Board of respective states, ICSE, CBSE etc and Passport of the minor etc).

Guardian Signature.

Scanned Copy of Passport (Applicable only for NRI Subscribers).

Scanned copy of Foreign Address Proof (Applicable only for OCI Subscribers).

Scanned copy of Bank Proof (Applicable only for NRI/OCI Subscribers).