Financial Daily from THE HINDU group of publications
Tuesday, Dec 31, 2002
Financial Daily from THE HINDU group of publications Tuesday, Dec 31, 2002 |
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Opinion
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Letters Retirement scheme
In view of the hardships being faced by retired people/senior citizens in deploying their life-long savings for earning reasonable rate of interest along with security of the principal amount, the government should come out with some sort of retirement scheme, wherein they can get monthly payments for a specified period, as per the option of the investor. The government can provide the rate of interest on the lines of National Savings Certificates/Public Provident Fund. The amount of monthly payments can either be by way of interest only, or interest plus part of principal, as desired by the investor. The payment should be made by post-dated cheques in advance. By such schemes, this segment of society will be relieved to a large extent. The government is also not likely to bear any additional burden as it is going to pay that rate offered by schemes such as NSC or PPF. M. L. Agarwal Delhi
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