The government-backed Senior Citizen Savings Scheme (SCSS) is available to individuals aged 60 and above. The scheme offers an interest rate of 8.2% and the interest is payable every quarter. Recently, the government made several important changes to the scheme. One of the changes allows retired individuals aged between 55 and 60 to have three months’ time to invest retirement benefits in the SCSS. Spouses of government employees who died on the job can now also invest the financial aid amount in the scheme. The government has also defined the scope of retirement benefits and imposed new restrictions on premature withdrawal. Additionally, the government has removed the limit on the extension of SCSS and revised the interest rate for extended deposits. The maximum deposit amount in the scheme shall not exceed the allowed deposit limit. These changes aim to make the SCSS more accessible and beneficial to senior citizens.