Please provide relief to Senior Citizens with continuity of schemes
Could not understand why Govt. is restricting years of deposit or scheme/s for senior citizens. All of us are well aware social security network in our country is very less except for some privileged sector. Many senior citizens especially private sector employees do not have appropriate schemes post retirement, though they were protected to some extent while in service through ESI, Group Medical Insurance, EPF etc.
The PMVVY of LIC is only for 10 years, which will be in operation till 31.03.2020 only and Post office Senior Citizen Savings Account is for 5 years with extension of 3 years and Monthly Income Scheme is for 5 years. These are the popular schemes available to senior citizens, where they can deposit their hard earned money safely, to my knowledge.
Here my concern is why Govt is restricting the period for 10 years, 5 years etc., when these schemes are exclusively meant for senior citizens. Does it mean that senior citizens do not require financial support after 5 or 10 years or assume that they will not survive beyond!!
Due to lack of appropriate schemes for life term, these senior citizens are forced to invest in some dubious schemes, private deposits, lured by incredible investment advisors etc., and losing their savings. Consequently for some people, this results in dire situation leading to miserable life at final stages.
I am requesting our ‘Local Circles’ to highlight these conditions to appropriate authorities and provide relief to senior citizens of India. The Govt. Of India need not spend much financially by providing extension of tenure of these schemes which are exclusively for senior citizens. Further, it will give boost for savings habit which is seeing a declining trend in recent times. The confident and comfortable life of senior citizens, will definitely encourage current generation of youth towards savings, thereby support our economy. In India, it is a must for savings during rainy days, for a pleasant post retirement or senior citizen life. Further, this will enable senior citizens self dependent and live them with respect and dignity.
Please note here it is a request to provide some schemes for senior citizens for life time to save their hard earned money with safe returns and not interested or needed alms from Govt or any other source.
Requesting once again, our Local Circles to push the concern, for providing relief in the coming budget. more
The PMVVY of LIC is only for 10 years, which will be in operation till 31.03.2020 only and Post office Senior Citizen Savings Account is for 5 years with extension of 3 years and Monthly Income Scheme is for 5 years. These are the popular schemes available to senior citizens, where they can deposit their hard earned money safely, to my knowledge.
Here my concern is why Govt is restricting the period for 10 years, 5 years etc., when these schemes are exclusively meant for senior citizens. Does it mean that senior citizens do not require financial support after 5 or 10 years or assume that they will not survive beyond!!
Due to lack of appropriate schemes for life term, these senior citizens are forced to invest in some dubious schemes, private deposits, lured by incredible investment advisors etc., and losing their savings. Consequently for some people, this results in dire situation leading to miserable life at final stages.
I am requesting our ‘Local Circles’ to highlight these conditions to appropriate authorities and provide relief to senior citizens of India. The Govt. Of India need not spend much financially by providing extension of tenure of these schemes which are exclusively for senior citizens. Further, it will give boost for savings habit which is seeing a declining trend in recent times. The confident and comfortable life of senior citizens, will definitely encourage current generation of youth towards savings, thereby support our economy. In India, it is a must for savings during rainy days, for a pleasant post retirement or senior citizen life. Further, this will enable senior citizens self dependent and live them with respect and dignity.
Please note here it is a request to provide some schemes for senior citizens for life time to save their hard earned money with safe returns and not interested or needed alms from Govt or any other source.
Requesting once again, our Local Circles to push the concern, for providing relief in the coming budget. more
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The point raised by Shri Basu (HR Professional) is in order,acordingly PMVVY scheme should be adjusted in a manner a tax free return @ 9-10% p.a. subject to maximum payment of Rs.25000/=per month against investment for life time of self + spouse. more
Dec 11
Senior Citizens specially those who are not getting any pension,and depending on interest,their real wages are getting eroded every year.I think Modi Govt has to look in to their economic grieviences including annual inflation compensation.For them even rental income is getting eroded.Also investment in Gold is also not lucrative as it is not rising equivalent to prevailing interest rate. more
Dec 10
I do agree that there should be some life long investment scheme for senior citizens by GOI to protect their life. This should be a tax free investment with monthly interest payment between 9 - 10% p. a. subject to maximum interest payment of Rs.25000/= per month. more
Nov 19
Can I take your attention to an MP or MLA who server for 5 yrs, they are eligible for PENSION. During their 5yrs, they are given UNLIMITED benefits in all their WALKS OF LIFE... whereas the senior citizens of today were contributing to the governance earlier when they were young and earning. Today, no government is coming out to safeguard the interests of sr.citizens, nobody bothered to think about their needs, rather giving free liberty to their children to move their parents to OLD AGE HOMES! Why a strict law is not enforced in this country for the protection of sr.citizens! Sorry, what to do other than barking for Rights! more
Nov 19
