Senior citizens enjoy many benefits in India, from higher interest rates and deductions to cheap travel fares and other subsidies compared to others.

Pension plans allow subscribers to make small monthly contributions towards a retirement fund and earn monthly pensions post-retirement.

Many government employees’ associations have been demanding the restoration of the old pension system, claiming the new pension system is against their interest.

While choosing these instruments, seniors should match their lock-in needs, liquidity, return expectation and risk appetite in sync with their financial goals.