Pension Fund for Kids: Some people are criticizing NPS i.e. National Pension System and some are praising it. But there have been some changes in it that the public is saying wow about it. In the year 2024, some such new rules have come in NPS. One of these is the change in NPS Vatsalya Yojana. Under this scheme, guardians can open an account for the pension of their children or to get them the right amount at the right time. Parents can also invest money of the future of the children to make their future. If you want to withdraw some amount in advance from the maturity of the pension fund to make your career, then now it has become easier to do so.

Some more changes have made the path of pension easier.

Apart from NPS Vatsalya, some other changes have made the path of the National Pension System and its adopters easier. This year NPS has also been linked to the Bharat Payment System. Through this, it is being considered to increase the time limit for contribution in NPS. NPS has been provided with a new security layer through Aadhaar authentication. With this, all the data of NPS will remain with the Central Record Keeping Agency. Its provision has been made by PFRDA i.e. Pension Fund Regulatory Development Authority from April 1, 2024. After this, Aadhaar authentication along with password has become mandatory to login to the NPS account.

Rules of Atal Pension Yojana also changed

The rules for opening an account in Atal Pension Yojana have also been changed. Earlier there was only one central record keeping agency Protein eGov Technology Private Limited. Now two more central record keeping agencies have been linked to it. These are Computer Age Management Services Limited and the other is Kaffin Technology Limited.

Disclaimer: This content has been sourced and edited from abplive.com. While we have made modifications for clarity and presentation.