In an order, the Department of Personnel and Training (DOPT) asked the concerned ministries to direct the Public Sector Undertakings (PSUs), banks, autonomous institutions and statutory bodies under their administrative control to review the employees. The order said that the performance of government employees should be used to find out whether their work is correct or not. If they are not working in the interest of the country, then they should be retired before time.

This order has been issued to the secretaries of all central government departments. It has been said that the administrative ministries and departments should follow this and submit its report to DoPT as soon as possible. The instruction said, it has been found that the rules are not being followed in the departments of some ministries. This is causing delay in identifying government employees for review under the relevant provisions of Fundamental Rules (FR)-56 (J) / (I) and Rule 48 of Central Civil Services or CCS (Pension) Rules (now, amended as Rule 42 of CCS (Pension) Rules, 2021).

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These rules determine the policy for review of government employees and their compulsory retirement. This speeds up the government work. DoPT said in its order dated June 27, ministries/departments have been asked to immediately identify the employees for review under the relevant provisions of the basic/pension rules. These employees should be reviewed and the report should be shared immediately. Accordingly, all ministries and departments have been asked to submit the report by the 15th of every month from July.

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They want to invest this savings in a place where they get high returns and their invested amount is completely safe. This is the reason why most senior citizens invest money in FDs in banks. Many banks also give 50 percent more interest to senior citizens to encourage their FD investment.

If you are also thinking of investing your retirement capital in a safe place, then this time invest in a post office scheme instead of a bank FD. A special scheme is run in the post office for senior citizens, called Senior Citizen Savings Scheme. In this scheme, they are given a good interest, with the help of which senior citizens can increase their savings rapidly.

The amount is deposited for 5 years

Senior Citizen Savings Scheme is a deposit scheme. In this, money is deposited for 5 years. Any person whose age is 60 years or more can invest. On the other hand, civil sector government employees taking VRS and people retiring from defense are given relaxation in age limit with some conditions.

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8.2% interest and tax exemption too

SCSS is currently giving an interest rate of 8.2 percent. Senior citizens can invest up to Rs 30,00,000 in this scheme, while the minimum investment limit is Rs 1000. In this scheme, interest is paid on the deposit amount on a quarterly basis. The scheme matures after 5 years. If you want to continue the benefits of this scheme even after 5 years, then after the deposit amount matures, you can extend the account period for three years. It can be extended within 1 year of maturity. The extended account gets interest at the rate applicable on the date of maturity. SCSS offers the benefit of tax exemption under section 80C.

This is how 15 lakhs will become ₹21,15,000

If you want to increase your savings rapidly, then this scheme can prove to be a better option. In this scheme, if you deposit Rs 15 lakh from your savings for 5 years, then according to the current interest rate of 8.2 percent, you will get Rs 6,15,000 in 5 years as interest only. If you calculate the interest on quarterly basis, it will be Rs 30,750. In this way, by adding Rs 5,00,000 and the interest amount of Rs 6,15,000, you will get a total of Rs 21,15,000 as maturity amount.

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