Changes in Post office Schemes: Changes have been made in the Senior Citizens Savings Scheme (SCSS). The government has made 7 changes in the Senior Citizens Savings Scheme. Like more time to invest retirement benefits, investments can now also be made by the spouse of a government employee.
Changes in Post office Schemes: The government recently issued a notification making several important changes in the popular Senior Citizens Savings Scheme (SCSS), Public Provident Fund (PPF) and 5-year Post Office Time Deposit.
Changes made in small savings schemes
Changes have been made in the Senior Citizens Savings Scheme (SCSS). The government has made 7 changes in the Senior Citizens Savings Scheme. Like more time to invest retirement benefits, investments can now also be made by the spouse of a government employee.
Apart from this, PPF premature interest calculation has changed. Whereas, if the 5-year Post Office Time Deposit is withdrawn prematurely after four years from the date of opening, then the Post Office Savings Account gets interest at the rate of 4%.
Earlier, if a 5-year post office deposit was closed after four years from the date of deposit, the rate applicable to three-year fixed deposit accounts was used to calculate interest.
