You are here: Home » PF » News » Savings Schemes
Business Standard

Your Money: Senior citizens pension scheme offers good rate

Returns will be taxed and money is locked in for 10 years, so, invest only part of your portfolio

Priya Nair  |  Mumbai 

With interest rates on a downward spiral, senior citizens should be happy with the Union Budget’s proposal to start a scheme for them which offers an annual return of 8 per cent for 10 years. The scheme will be launched by the Life Insurance Corporation of India (LIC) on April 1 and will offer interest payouts on a monthly, quarterly, half-yearly and annual basis.   Earlier in December, the Prime Minister had announced a special senior citizens fixed deposit which also offers a guaranteed return of 8 per cent and had a tenure of 10 years. There was also a maximum investment ...

TO READ THE FULL STORY, SUBSCRIBE NOW AT JUST Rs 149 A MONTH

Key stories on business-standard.com are available to premium subscribers only.

LOGIN

EMAIL / USER NAME
PASSWORD
REMEMBER ME Forgot password?

Not a member yet ? Resister Now

Connect using any below

  • Don't lose the opportunity of saving $26.77 per month
  • Don't lose the opportunity of saving $26.77 per month
Total Amount
Rs. 0.00
To proceed, kindly select a subscription package

WHAT YOU GET

On Business Standard Digital

  • Access your subscription from anywhere. Be it your computer, tablet or smartphone using a browser or the App, Your Choice.
  • Access to exclusive content, features, opinions and comment, hand-picked by our editors, just for you.
  • Pick your 5 favourite companies. Get all the news upates at the end of each day through E-Mail.
  • Pick the industry that you want to track. And get a daily news letter specific to that industry. Cut out the clutter.
  • And stay on top of your investments. Track stock prices in your portfolio
  • Access 18 years of archival data

On Digital

  • Seamless access to WSJ.com with your Business Standard digital account.
  • Experience the best of the Journal's reporting, video and interactive features.
  • Read about the people and events shaping business, finance, technology, politics, technology and culture.
  • Stay informed with newsletters - an easy way to get WSJ content straight to your inbox - making life easier on your busiest days.
  • More business executives read the Journal globally than any other publication.
*Note :
Our Partners are proud to be associated with this initiative and will contribute Rs 100 x 6 months thereafter, standard rate of Rs 149 will be charged.
Offer valid for Indian residents only
Requires you to share personal information like PAN, Date of Birth, and Income.
*Annual saving on WSJ subscription price of US$ 347.88 (12 months @ US$ 28.99 per month)
* 1US$ = 67.50 INR.
*Please note that this offer is not valid if you are/were a registered/existing user on WSJ Digital
RECOMMENDED FOR YOU

Your Money: Senior citizens pension scheme offers good rate

Returns will be taxed and money is locked in for 10 years, so, invest only part of your portfolio

Returns will be taxed and money is locked in for 10 years, so, invest only part of your portfolio With interest rates on a downward spiral, senior citizens should be happy with the Union Budget’s proposal to start a scheme for them which offers an annual return of 8 per cent for 10 years. The scheme will be launched by the Life Insurance Corporation of India (LIC) on April 1 and will offer interest payouts on a monthly, quarterly, half-yearly and annual basis.   Earlier in December, the Prime Minister had announced a special senior citizens fixed deposit which also offers a guaranteed return of 8 per cent and had a tenure of 10 years. There was also a maximum investment ... image
Business Standard
177 22

Your Money: Senior citizens pension scheme offers good rate

Returns will be taxed and money is locked in for 10 years, so, invest only part of your portfolio

With interest rates on a downward spiral, senior citizens should be happy with the Union Budget’s proposal to start a scheme for them which offers an annual return of 8 per cent for 10 years. The scheme will be launched by the Life Insurance Corporation of India (LIC) on April 1 and will offer interest payouts on a monthly, quarterly, half-yearly and annual basis.   Earlier in December, the Prime Minister had announced a special senior citizens fixed deposit which also offers a guaranteed return of 8 per cent and had a tenure of 10 years. There was also a maximum investment ...

image
Business Standard
177 22