Senior Citizen Savings Scheme (SCSS) – Eligibility Criteria

Individuals Aged 60 Years or Above

• Any individual who has attained the age of 60 years or more on the date of opening the account is eligible. 
   

Retirees Between 55 to 60 Years

• Individuals who have retired on superannuation or otherwise, and are aged 55 years or more but less than 60 years at the time of account opening, are eligible subject to the following conditions: 
  
  • The account must be opened within one month of receiving retirement benefits. 
  
  
  • Submission of proof of date of disbursal of retirement benefits is mandatory. 
  
  
  • A certificate from the employer is required, stating: 
    
    
    • Date and reason for retirement (superannuation or otherwise)
    
    
    • Details of retirement benefits received
    
    
    • Nature of employment and duration of service

Defence Services Personnel

• Retired personnel from Defence Services (excluding civilian defence employees) are eligible to open an SCSS account on attaining the age of 50 years, subject to other specified conditions. 
   

Nomination Rule

• Nomination is allowed only in favour of resident Indians.