Anagh Pal29 May 2023, 07:01
Investments for senior citizens should prioritize capital protection, regular income, liquidity, and tax efficiency. Investing in equity can help generate inflation-beating returns, but caution should be exercised. Some senior citizens have been mis-sold Unit-Linked Insurance Plans (ULIPs) as fixed deposits, leading to calls for a regulatory crackdown. Instead, senior citizens could consider investments that offer regular income, liquidity, and taxation, such as the Senior Citizens' Saving Scheme (SCSS), Pradhan Mantri Vaya Vandana Yojana (PMVVY), and Post Office Monthly Income Scheme (POMIS). In addition, investment in equity mutual funds and established blue-chip companies may be a viable option.