Answer: Pension Fund Regulatory and Development Authority (PFRDA)
Notes: The Pension Fund Regulatory and Development Authority (PFRDA) issued the National Pension System (NPS) Vatsalya Scheme Guidelines 2025. NPS Vatsalya is a contributory long-term financial security scheme exclusively for minors. It was announced in the Union Budget 2024–25 and launched on 18 September 2024 by the Union Finance Minister. The scheme allows parents or legal guardians to build systematic savings for children, with continuity into NPS on attaining majority. It is open to all Indian citizens, including Non-Resident Indians (NRI) and Overseas Citizen of India (OCI), below 18 years.
