Can you break your SCSS deposit early?

"I invested in the Senior Citizens' Saving Scheme (SCSS) about three-and-a-half years ago. Due to a medical emergency, I now need to withdraw the money. Can I exit early, and what would it cost me?" This is a question many retirees might find themselves asking. While SCSS is a reliable source of income for senior citizens—offering an 8.2 per cent annual interest with government backing—life, as we know, doesn't always stick to plan. Whether you're dealing with unexpected expenses or simply reassessing your financial strategy, it's important to know how SCSS handles premature withdrawals, extensions, and exits. Premature withdrawal before ma

This article was originally published on April 24, 2025.