Senior Citizens Pension Scheme Announced to Ensure Greater Returns For Elderly Citizens

Senior Citizens Pension Scheme Announced to Ensure Greater Returns For Elderly Citizens

Good news seems to be raining for senior citizens. The Union Budget has proposed to initiate a scheme for senior citizens that would bid an annual return of 8 per cent for a span of 10 years. The Life Insurance Corporation of India (LIC), on April 1, 2017, has launched the scheme offering interest pay outs on an annual, half-yearly, quarterly and monthly basis. Previously, in December 2016, special senior citizens fixed deposit was announced by India’s honourable Prime Minister, Narendra Modi, that offered a certain return of 8 per…

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Senior Citizens Pension Scheme Announced to Ensure Greater Returns For Elderly Citizens

Senior Citizens Pension Scheme Announced to Ensure Greater Returns For Elderly Citizens

Good news seems to be raining for senior citizens. The Union Budget has proposed to initiate a scheme for senior citizens that would bid an annual return of 8 per cent for a span of 10 years. The Life Insurance Corporation of India (LIC), on April 1, 2017, has launched the scheme offering interest pay outs on an annual, half-yearly, quarterly and monthly basis. Previously, in December 2016, special senior citizens fixed deposit was announced by India’s honourable Prime Minister, Narendra Modi, that offered a certain return of 8 per…

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Senior Citizens guide to Tax Exemptions: The best is always kept for the last days!

Senior Citizens guide to Tax Exemptions: The best is always kept for the last days!

Senior Citizens in India face a number of challenges today.  Apart from deteriorating health, non-productivity, isolation and boredom, worrying about finances tops their list. Unlike parents in developed nations like the United States, parents in India have their children live with them for a much longer time and completely finance their education and wedding expenses.  It is perceived as a duty of the parent in the Indian social set-up. Financially independent Senior citizens face far lesser issues than the dependent ones. At 60, the salaried working class go through major…

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