Lok Sabha Question No. 1088 (UNSTARRED), answered on 2024-12-02
Subject: Pension Schemes for Minors
Ministry: FINANCE
Asked by: Smt. Sajda Ahmed

## GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF FINANCIAL SERVICES *****

## LOK SABHA UNSTARRED QUESTION NO. 1088

ANSWERED ON MONDAY, DECEMBER 2, 2024/ AGRAHAYANA 11, 1946 (SAKA)

## PENSION SCHEMES FOR MINORS

## 1088. Smt. Sajda Ahmed

Will the Minister of Finance be pleased to state:

- (a) whether the Government has introduced any pension schemes for minors;
- (b) if so, the details thereof;
- (c) the share of the Government's contribution towards these pension schemes and implemented in which manner these are being structured/implemented; and
- (d) the details of the beneficiaries enrolled under the schemes, State-wise?

## ANSWER

## MINISTER OF STATE FOR FINANCE (SHRI PANKAJ CHAUDHARY)

(a) to (d) NPS-Vatsalya Scheme, a contributory pension scheme for minors, was launched on 18 th September,  2024  with  the  objective  to  create  a  pensioned  society.  The  scheme  is  designed  for parents/guardians  to contribute for minor subscriber a minimum of Rs. 1000 per annum with no ceiling on maximum contribution. On attaining the age of majority of the subscriber, the account can be seamlessly converted into NPS account. The scheme is implemented through Points of Presence (PoPs)  regulated  by  the  Pension  Fund  Regulatory  and  Development  Authority  (PFRDA)  which include all the Public Sector Banks branches, Private Banks and Non-Bank entities.

As on 17.11.2024, a total of 66,495 subscribers have been enrolled under NPS-Vatsalya and the details of State/UT-wise enrolments are placed at Annexure A.

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## Lok Sabha Unstarred Question No. 1088 regarding 'Pension Schemes for Minors' to be answered on 02.12.2024

## State/UT-wise subscribers under NPS Vatsalya

| Sr. No.   | Name of the State/UT        |   Number of subscribers |
|-----------|-----------------------------|-------------------------|
| 1         | Andaman And Nicobar Islands |                      59 |
| 2         | Andhra Pradesh              |                    7433 |
| 3         | Arunachal Pradesh           |                      40 |
| 4         | Assam                       |                    1088 |
| 5         | Bihar                       |                    2308 |
| 6         | Chandigarh                  |                     142 |
| 7         | Chhattisgarh                |                    1121 |
| 8         | Dadra &Nagar Haveli         |                      23 |
| 9         | Daman and Diu               |                       0 |
| 10        | Delhi                       |                    2519 |
| 11        | Goa                         |                     257 |
| 12        | Gujarat                     |                    2936 |
| 13        | Haryana                     |                    1695 |
| 14        | Himachal Pradesh            |                     608 |
| 15        | Jammu And Kashmir           |                     164 |
| 16        | Jharkhand                   |                    1566 |
| 17        | Karnataka                   |                    6640 |
| 18        | Kerala                      |                    3618 |
| 19        | Ladakh                      |                       1 |
| 20        | Lakshadweep                 |                       5 |
| 21        | Madhya Pradesh              |                    2002 |
| 22        | Maharashtra                 |                    9219 |
| 23        | Manipur                     |                     177 |
| 24        | Meghalaya                   |                      86 |
| 25        | Mizoram                     |                      62 |
| 26        | Nagaland                    |                      84 |
| 27        | Odisha                      |                    2336 |
| 28        | Puducherry                  |                     122 |
| 29        | Punjab                      |                     996 |
| 30        | Rajasthan                   |                    2267 |
| 31        | Sikkim                      |                      45 |
| 32        | Tamil Nadu                  |                    4955 |
| 33        | Telangana                   |                    2329 |
| 34        | Tripura                     |                     116 |
| 35        | Uttar Pradesh               |                    5012 |
| 36        | Uttarakhand                 |                     679 |
| 37        | West Bengal                 |                    3665 |
| 38        | Others                      |                     120 |
| Total     | Total                       |                   66495 |

Source: PFRDA