Glimpses of Rule:179
Chapter 9: Rule 110 of POSB CBS Manual- Senior citizen Savings scheme:- SCSS Introduced w.e.f 02.08.2004. Rule 110 Eligibility to open account Individual who has attained 60 years of age. Individual who attained 55 years of age or more but less than 60 who retired on superannuation or otherwise on the date of opening the account, subject to the condition that the account is opened within one month of the date of receipt of the retirement benefits and proof of date of disbursal of such retirement benefit(s) along with a certificate from the employer indicating the fact of retirement on superannuation or otherwise, retirement benefit, employment held and period of such employment with the employer is attached with the application form. ▸ Defence personnel can open account on attaining 50 years of age subject to fulfilment of other above specified conditions. Calculation of 30 days after retirement: Facility of opening multiple account is available under the scheme, the retired person can