NPS Vatsalya

Eligibility: All minor citizens (age till 18 years).
Operations: Account opened in the name of minor and operated by Guardian. Minor is the sole beneficiary.
How to opt for Vatsalya account: NPS Vatsalya account can be opened through by visiting https://pensionfund.adityabirlacapital.com/ . It is 100% digital journey and seamless with either of the registration modes namely offline Aadhaar eKYC Or Digilocker Or CKYC.
Tax Benefits for contributions: Contributions made under NPS Vatsalya PRAN, the legal guardian can claim the tax deductions u/s 80CCD (1B). The deductions to be claimed u/s 80CCD (1B) are capped upto INR 50,000 for FY, including the voluntary contribution made by legal guardian for his/her own NPS PRAN.

Documents for registration: KYC of Guardian shall be carried out by submitting Proof of Identity and Address. Below are the listed documents:

   . Aadhaar, Driving License, Passport, Voter ID card, NREGA Job Card, National Population Register, Date of Birth proof      of the Minor (Birth certificate, School leaving certificate, Matriculation Certificate, PAN, Passport)

   . For NRI Guardian: NRE / NRO Bank Account (solo or joint) of the minor.

   . The details of a minor's bank account or a joint bank account with a minor may also be provided on an optional      basis for Indian residents. In case of an NRI/OCI subscriber, the bank account details shall be provided mandatorily.
Contribution Account Opening contribution: Registration with Min Rs. 250 /-. There is no upper limit for the contributions to be made.
Subsequent contribution: Min. Rs. 250 /- p.a. to keep the PRAN active. SIP facility to automate the contribution is made available on PoP – Aditya Birla Pension official website: https://pensionfund.adityabirlacapital.com/
Pension Fund Manager and Scheme selection Options: OptionsThe investment framework will align with the NPS Master Circular No. PFRDA/Master Circular/2025/03/PF-02 dated 28th March 2025, as amended from time to time. (The choice of asset allocation will be different between Pension Funds within the range provided below so as to differentiate their performance, or PF may decide their own asset allocation for the funds of NPS Vatsalya (as in the case of MSF) managed by them, by following the investment guidelines specified for Non-Government Schemes.)

   Existing NPS Vatsalya subscribers shall be migrated to the new structured scheme under their current Pension Fund     with due prior intimation. Guardians retain the option to change, Pension Fund under existing rules.

   Guardian will be deciding and then choosing the scheme. Below are the scheme options available during the     registration phase:

     . Default Choice: Life Cycle 50 – Moderate (10E / 55Y)

     . Auto Choice: Guardian can choose Lifecycle Fund ; Life Cycle 75 – High (15E / 55Y), Life Cycle 50 – Moderate      (10E / 55Y) or Life Cycle 25 – Low (5E / 55Y)

     . Active Choice: Guardian actively decides allocation of funds across Equity (upto 75%), Corporate Debt (upto      100%), Government Securities (upto 100%) and Alternate Asset (upto 5%).
Withdrawal and Exit Rules

    Conditions for Partial Withdrawal

    Partial withdrawal is permitted under the NPS Vatsalya Scheme to address the contingency or unforeseen      situations. The reasons/conditions for partial withdrawal include:

            a. Education of the minor subscriber

            b. Treatment of specified illnesses of the minor subscriber

            c. Disability of more than 75% of the minor subscriber

    The following shall be the conditions for such partial withdrawals:

   . The subscriber or guardian, as the case may be, shall be eligible to make a partial withdrawal only after being in      the scheme for at least three years from the date of account opening.

   . A maximum amount of up to 25% of contributions (excluding returns generated there upon) shall be allowed to be      withdrawn partially. This facility is available on a declaration basis.

   . The subscriber/guardian shall be eligible to take not more than two partial withdrawals from the account during      the period till the subscriber attains the age of eighteen years.

   . Further, upon attainment of eighteen years of age and subject to completion of the prescribed KYC requirements,      the subscriber shall also be eligible to make a maximum of two additional partial withdrawals during the period      between eighteen and twenty-one years of age.

    Continuation and Exit options upon attaining majority:

   . Upon attaining the age of eighteen years, the subscriber shall continue under the scheme for a period of up to      three years from the date of attaining majority, unless the subscriber opts to exit from the scheme or opts to shift      under the All-Citizen Model or any other applicable model of NPS.

   . During the said three-year period, the subscriber shall furnish fresh KYC and nominee(s) details and conform to      such other requirements as may be stipulated by the PFRDA. Until such details are furnished and verified in the      system, no withdrawal shall be permitted from the account. However, the invested amount shall continue to      accrue returns.

   . Upon completion of KYC requirements, the subscriber may exercise one of the following options:

         . Continue within the National Pension System, upon which the account, with entire accumulated pension           wealth, shall be seamlessly shifted to the All-Citizen Model or any other applicable model of NPS.

   (or)

         . Up to 80% of the accumulated corpus may be taken as a lump sum, and the balance must be reinvested in an           annuity plan from an ASP.

   (or)

         . The entire accumulated corpus in the account can be withdrawn as a lump sum if the total corpus is less than           Rs. 8 lakh.

         . If no option is exercised within the period starting from the attainment of the age of 18 years till the age of 21           years, the account, after expiry of such period, shall be deemed to be shifted to the high-risk variant (higher           equity exposure) under the Multiple Schemes Framework (MSF) of the same Pension Fund. Upon such shifting,           the options available under NPS Vatsalya for withdrawal or exit shall cease to apply, and the account shall           thereafter be governed by the PFRDA (Exits and Withdrawals under the NPS) Regulations, 2015, amended from           time to time. Any subsequent withdrawals thereafter shall be allowed only after completion and verification of           KYC, and fulfilling other requirements, if any.

    Provisions Relating to death of the subscriber and Guardianship:

   . In the event of unfortunate death of the subscriber, the entire accumulated pension wealth in the individual      pension account shall be payable to the guardian or nominee(s) or legal heir(s), as the case may be. The recipient      shall also have the option to transfer the proceeds to their individual pension account under NPS. Where any      guardian predeceases a subscriber, another guardian shall have to be registered by submitting the necessary KYC      documents.

   . In case of death of both parents, the legally appointed guardian may continue the account with or without making      further contributions. Upon the subscriber attaining the age of eighteen years, the subscriber shall have the option      to either continue under the scheme or to exit therefrom in accordance with the applicable provisions.

NPS VATSALYA