Editorial | Gift for Senior Citizens, Retired Employees and Pensioners

New Year 2023 has started on a good note for small savings investors in the senior citizen age group. This group includes people aged above 60 years, retired employees and pensioners. A large number of people in this age group rely on small savings schemes like Senior Citizens Saving Scheme (SCSS), Post Office Monthly Income Scheme (POMIS) and National Savings Certificate (NSC) for monetary support in their golden years. According to FinancialExpress.com , The Government has increased interest rates of SCSS, POMIS and NSC schemes for the January-March quarter of FY 2022-23. Along with these, the interest rates for Post Office Time Deposit, or Fixed Deposit, of various tenors have also gone up. Senior Citizens Saving Scheme (SCSS) interest rate has been increased to 8% for the January-March 2023 quarter.