Question : DENIAL OF SENIOR CITIZENS SCHEME BENEFITS

(a) whether the Government is aware that retired employees of Maharashtra, Tamil Nadu, and Kerala State Governments are being denied the benefit of Senior Citizens’ Saving Scheme because they have neither completed 60 years nor have taken VRS;

(b) if so, the reasons therefor; and

(c) the steps taken by the Government to remove this anomaly in implementation of the Scheme?

MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI S.S. PALANIMANICKAM)

(a) to (c). Retired persons who have attained the age of 55 years or more but less than 60 years, are eligible to invest an amount upto the maximum of their retirement benefits or rupees fifteen lakh, whichever is less, under the Senior Citizens Savings Scheme of the Central Government.