News From Press Overview of the Senior Citizens Savings Scheme

Overview of the Senior Citizens Savings Scheme

Source: Value Research Jan 2, 2020

While retirement often comes with financial uncertainty, there are savings products that are safe and ensure guaranteed retirement income. The Senior Citizen Savings Scheme (SCSS), launched in 2004, is one such deposit scheme. Introduced by the Government of India, the main objective of the SCSS is to provide an assured return (paid every quarter) to senior citizens, and in doing so to create a guaranteed regular income flow.

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