On receipt of the retirement benefits they either spend on purchase of some immovable property or keep in the Banks as fixed deposit,as almost 90% donot know how to invest in stock markets or any other mode whereby they can earn more.
Over the past many years the experience is that the prices of essential food items raise exhorbitantly while the rates of interest on deposits are coming down.Added to the above there is deduction of tax on interest on deposits. In the result these persons who lived respectfully, earlier are finding it difficult to live peacefully. Added to this they donot have any back up for their medical requirements. No one in the government is thinking about these people.
I request this group to think about and find some ways for these people to die peacefully. I know pathetic conditions of some people who are my relatives also. The government can in the minimum think of paying a fair rate of interest on the deposits of these people without tax deduction,(many of these retired people donot know about the tax laws at all) Kindly think on these issues please more