This scheme is Post Office Senior Citizen Saving Scheme (SCSS). This scheme is being run by the government and it gives higher interest than other savings schemes. Here you can get regular income every month by investing your retirement money.

Start investing from Rs 1000

The most special thing about the Post Office Senior Citizen Savings Scheme is that you can start investing in it with just Rs 1000. This scheme is the safest option for the elderly. This will give you regular income and you will not have to worry about money after retirement. This scheme is available for 5 years.

Also Read: Bank Account Deposit Rules- How much money can you keep in a savings account limits interest and tax rules explained

Who can open this account?

People who are 60 years or older can take advantage of this scheme. If you have retired under VRS (Voluntary Retirement Scheme) at the age of 55 to 60 years, you can still open this account. Employees retired from defense service can also take advantage of this scheme at the age of 50. You can also open this account with your spouse.

How to open an account?

Senior citizens can open an SCSS account by visiting any bank or post office. To open an account, you have to deposit at least Rs 1000. You can deposit a maximum of Rs 30 lakh. Money can be deposited in multiples of Rs 1000.

Return

In this scheme, you get an interest of 8.2 percent annually. If a person deposits Rs 30 lakh, he will get an interest of Rs 2.46 lakh annually, which is about Rs 20,000 per month. Post Office Senior Citizen Savings Scheme (SCSS) is an excellent option for the elderly. This gives them regular income after retirement and fulfills their financial needs. This scheme provides financial security and stability to the elderly, so that they can enjoy their life.

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If you have also invested money in any government scheme like Public Provident Fund (PPF), Senior Citizen Savings Scheme (SCSS), Sukanya Samriddhi Yojana (SSY), then it is important for you to know this news. The government has changed the rules for those investing in these schemes. Now if you are also planning to invest in any of these government schemes, then without PAN and Aadhaar card, you will not be able to take advantage of it.

Ministry of Finance has issued notification

The Ministry of Finance had issued a notification regarding this some time ago. It was told in this notification that small government savings schemes will be used as KYC. Apart from this, the Finance Ministry has said that investors will have to give Aadhaar number first to make any further investment. Apart from this, PAN card will have to be shown to invest more than the limit. Without PAN card you will not be able to invest.

Given time of 6 months

If you have not given Aadhaar while opening account for Post Office Savings Scheme, you will have to submit proof of enrollment slip for Aadhaar. Also, the investor will have to give Aadhaar number within 6 months of opening the account ie investing in small savings scheme. Let us tell you what documents you will need to open an account in the small savings scheme from now on.

You will have to provide Aadhaar number or Aadhaar enrollment slip.

Along with this, passport size photo should also be there.

PAN number, if existing investors do not submit PAN card and Aadhaar card by 30 September 2023, their account will be banned from 1 October 2023.

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Senior Citizen Scheme: Many schemes are being run by the Central Government. Today we will tell you about such a scheme, in which you will get double benefits. Many big announcements have been made by the government for women and senior citizens. Today we will tell you about two such special schemes of the government, in which senior citizens will get many special benefits.

The names of these schemes are Senior Citizens Savings Scheme (SCSS) and Pradhan Mantri Vaya Vandana Yojana (PMVVY). Both these schemes are popular among the elderly persons.

Senior Citizen Saving Scheme

Senior Citizen Saving Scheme is considered a better option for retirement. On investing in it, benefits ranging from tax exemption to interest are given. You can take advantage of Rs 60 lakh in a joint account. Any citizen of 60 years can invest in SCSS and in this you are given 8% interest. In this, even within a month of retirement, you can deposit money in SCSS till the age of 55 to 60 years.

PM Vaya Vandana Yodana

PM Vaya Vandana Yojana is a kind of pension scheme, in which you get monthly money. In this, husband and wife get Rs 18500 per month. The special thing is that your money is completely safe in this and after 10 years you get the entire money back with interest.

Who can take advantage?

In this scheme, any citizen of the age of 60 years can take advantage of it. Under this scheme, interest of 7.40 percent is given. In this scheme, you invest up to a maximum of 15 lakhs. Also, up to Rs 30 lakh can be invested in a joint account.

In which one will you get more benefit?
If you want to invest in Senior Citizen Saving Scheme, then you will get the benefit of tax exemption. At the same time, this does not happen in PM Vaya Vandan Yojana.

The post Attention Senior Citizens! Your money is invested in these schemes, the government has given a very good news first appeared on Rightsofemployees.com.