Postal staff rejecting investment of settlement funds in Senior Citizen Savings Scheme
The Hindu
Staff at post offices do not seem well versed in the regulations, said Suresh Parthasarathy. founder, Myassetsconsolidation.com; 30 days time not enough during the pandemic to make the investment, he said
Despite rules allowing employees above the age of 55 years, who have opted for voluntary retirement or given compulsory retirement, to invest their settlement funds in the Post Office Senior Citizen Savings Scheme, frontline staff are allegedly rejecting such deposits. An individual above 60 years of age can invest in a post office senior citizen savings scheme (SCSS). However, there is an exemption clause which allows employees above 55 years of age and below 60 years of age to invest their settlement amount in this scheme, subject to the condition that the investment be made within one month of receipt of such an amount.More Related News