- Centre has allowed the spouses of deceased government employees to open Senior Citizen Saving Scheme (SCSS) accounts.
- Earlier, the spouses of deceased government employees were not allowed to open SCSS accounts.
- The spouse of the government employee can open an account under the scheme, if the government employee who has attained the age of 50 years has died in harness.
- All Central and State Government employees are included in government employees here. They are eligible for retirement benefit or death compensation.
- The account can be opened within three months from the date of receipt of the retirement benefits for a living employee.
Senior Citizen Savings Scheme
- It is a savings scheme supported by the government.
- It is available to individuals aged 60 years or older, or those who have retired at the age of 55 years or above.
- Under this scheme, account can be opened with a minimum amount of ₹1,000 and a maximum of ₹30 lakh.
- The SCSS offers 8.2 per cent per annum interest rate. The tenure of the scheme is five years. It can be extended.