New Delhi, April 30 -- If you have a predictable, safe income stream in retirement, it can go a long way toward helping you live a comfortable life with your family. With age, expenses tend to rise, especially those related to treatment and medical care, and this is exactly where the Senior Citizen Savings Scheme (SCSS) stands out and makes a decisive difference.

With the sovereign backing of the government and one of the most lucrative interest rates among all small savings schemes, SCSS has become a go-to option for retirees looking to convert their hard-earned savings into a steady income in their retirement years.

The SCSS is a government-backed savings scheme. The significance of the scheme lies in the fact that once an individual ...