Unfortunately there are no funds that gives tax free decent return for the retired persons. The return of the annuity funds is around 6% with return of capital after death. Previous monthly income scheme give better return than annuity but one have to face uncertain future every five year in terms of interest rate. LIC Varista pension yojana was there but it was short lived also pension amount was too less Rs. 5000/- per month maximum. Only Senior citizen savings scheme is there for this too interest rate is decreasing. Government should look in to life of senior citizens who had worked for the country through the life and make suitable schemes for theme.
