I am 57 and due to loss of my long overseas employment with a private company abroad, I am, by force, prematurely retired. Obviously, I was not part of any recognized VRS scheme etc.
Am I eligible to invest in Senior Citizen’s scheme despite my age of 57?
Please advise and oblige providing necessary clarifications.
For opening an account under Senior Citizen Savings Scheme, any individual should be of 60 years of age or more. However any individual of the age of 55 years or more but less than 60 years of age can also open an account under SCSS provided he has retired on superannuation or under VRS. It seems that your loss of job is not under either of the category. Hence you will not be eligible to invest in SCSS though the age is not a barring criteria for you.