Details about

Senior Citizens Savings Scheme (SCSS)

A Senior Citizens' Saving Scheme (SCSS) is a government-sponsored retirement savings programme. Senior citizens in India can invest a large sum in the scheme, either individually or collectively, and receive regular income as well as tax benefits. One of the Post Office savings initiatives is the Senior Citizens' Saving Scheme. You can open a SCSS account at the Post Office just like you can at any other authorized bank.

To open a SCSS account, you can go to your nearest Post Office branch or the branch where you have a savings account, just like you would with any other Post Office saving programme. Before opening an account, make sure you understand the eligibility requirements and the features of the scheme.A Senior Citizens' Saving Scheme (SCSS) account is a government-backed account that provides retirement benefits. Senior citizens in India can take advantage of the account's benefits by investing a large sum in the scheme, either individually or collectively. The account will provide access to monthly income after retirement, as well as income tax advantages.