Question

What happens to an NPS-Vatsalya account when the minor reaches the age of majority?

The Union Budget 2024-25 mentions that the NPS-Vatsalya plan can be seamlessly converted into a normal NPS account when the minor becomes an adult.

A The account is automatically closed, and the funds are transferred to the minor's bank account.

B The account remains active, but no further contributions can be made.

C The account is converted into a normal NPS account, allowing the individual to continue contributing.

D The funds are locked in until the individual reaches retirement age.

E The account is transferred to the government, and the individual receives a fixed pension.

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