SENIOR CITIZENS CAN BUILD FD-FREE PORTFOLIO TOO

1. Senior Citizens can also have a regular income stream from their retirement fund through suitable Debt products in lieu of FD.
2. Firstly, 5-yr Post Office SCSS can be fully utilized for parents, where 15 lakh max. can be deposited in own name, and another 15 lakh max. in a joint account, with spouse as the first holder, thus depositing 30 lakh max. effectively.
3. For retired citizens, SCSS offers:-
a) Sec 80C tax benefit,
b) Sovereign safety for total deposit,
c) Unchanged interest rate,
d) Sec 80TTB tax benefit on interest,
e) No extra management charges,
f) TDS only above 50,000 annual interest.
4. Secondly, a Liquid fund can be utilized as an emergency fund for meeting annual contingencies, as it offers:-
a) High liquidity, 
b) Inflation-efficient returns,
c) No exit load.
5. Lastly, they can invest remaining Debt component of their retirement fund in a Long Duration Debt fund, or a Gilt Debt fund, as Debt funds offer benefits which are convenient and tax-efficient, besides giving inflation-beating returns.