Which are the best retirement investments for your portfolio?
Nishant Vivek 24 July 2018
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Retirement might seem like an end to a fixed earning cycle, but it is not completely true. With proper planning and investment, you can manage your finances with equal ease as you did before retirement. While your savings account is an option to help you out in the times of emergency, one cannot only rely on it. In order to lead a smooth retired life, you should look for best investment options for senior citizens that can help you get better returns. 
Some of the top investment options available for you after retirement are: 
Senior Citizen Savings Scheme (SCSS)
Only available for senior citizens and early retirees, SCSS gives you high returns at an interest rate of 8.6% per annum. With a maturity period of 5 years, you can invest up-to Rs. 15 lakh in one account. Additionally, to invest more, you can create another account. The higher interest rate and fixed income makes SCSS one of the desirable investment options for senior citizens.
Pradhanmantri VayaVandan Yojana
PMVVY is another tailor-made scheme for a senior citizen that was launched by the Government of India in association with LIC. You can enjoy fixed monthly returns up to Rs. 60, 000 by investing in PMVVY. The tenure of investment for PMVVY is of 10 years, and you can invest up to Rs. 15 lakh in accordance with your financial plan.
Senior Citizen Fixed Deposits
Fixed Deposits are considered as one of the safest investment options that generate stable returns. Especially for senior citizens, the senior citizen FD interest rates are even higher, and the returns are tax-free.  Additionally, you can get various other benefits of FD investments that go beyond returns that you might not know.
Moreover, when you invest in smart non-banking companies like Bajaj Finance, along with stable returns you also get the added benefits of flexible tenures, online account management, etc. In order to make the most of the senior citizen FD schemes, you need to plan your investments by calculating the returns. You can use the FD calculators to compare the returns offered by different banks and NBFCs and select the best.
Mutual Funds
Investing your retirement fund in equity-backed funds is also one of the clever ways to get high returns. As equities are more adjustable to inflation, the returns are higher as compared to other funds. You can create a diverse portfolio by investing a specific amount of your retirement funds in Mutual Funds.
While all of the schemes mentioned above are best for senior citizens, you should choose the one that will suit your requirements the best. All the schemes mentioned above will provide returns depending upon when you invest, how much you invest and how long you invest. Furthermore, the investment option that you choose to invest with also plays a crucial role in your investment plans. 
Apart from the options mentioned above, senior citizens can avail personal loans from Bajaj Finance at higher interest rates to deal with emergencies as well. Although, availing personal loans are not advisable in the later stages of life,  from the right financing company,  personal loans can be very helpful in funding emergencies and immediate needs. 
Aravind Maurya
4 years ago
wrong information about PMVVY it is 10000 monthly not 60000 kindly correct it
Here are 10 things to know about new PMVVY (Pradhan Mantri Vaya Vandan Yojana) scheme:

1) The PMVVY scheme has been implemented through Life Insurance Corporation of India (LIC) to provide social security during old age and protect elderly persons aged 60 years and above against a future fall in their interest income due to uncertain market conditions.

2) The scheme provides an assured pension based on a guaranteed rate of return of 8 per cent per annum for ten years, with an option to opt for pension on a monthly, quarterly, half-yearly or annual basis.

3) The differential return, the difference between the return generated by LIC from the scheme and the assured return of 8 per cent per annum, is borne by the government as subsidy on an annual basis.

4) As of March 2018, a total number of 2.23 lakh senior citizens were getting regular pension under the Pradhan Mantri Vaya Vandan Yojana (PMVVY).

5) PMVVY can be purchased offline as well as online through Life Insurance Corporation (LIC) of India.

6) At the end of the policy term of 10 years, the pensioner gets back the purchase price (amount invested to earn pension) along with final pension instalment.

7) On death of the pensioner during the policy term of 10 years, the purchase price will be paid to the beneficiary.

8) Currently, a loan up to 75 per cent of purchase price (amount invested to earn pension) is allowed after three policy years to meet the liquidity needs.

9) The PMVVY scheme also allows for premature exit for treatment of any critical/terminal illness of self or spouse.

10) On such premature exit, 98 percent of the purchase price will be refunded.
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