I am a retired person with a pension. At the time of retirement I have invested in Post Office Senior Citizen Saving Scheme. It has matured now, and I have ₹15 lakh for investment. I won't need the money for at least a year or more. Please advice me how to invest this money where I have liquidity and returns of around 10-12 per cent.
- R K Tandon
Conservative allocation funds like a Monthly Income Plan (MIP) which invests most of the money in fixed income securities and around 10-25 per cent in equity could be your option. They are likely to provide inflation-beating returns. They are also more tax-efficient than bank deposits if held for more than three years.
However, do not go by their name as monthly income plans may not provide regular income. You can use them only to supplement your income from pension. Only SCSS, Post Office MIP, bank deposits, etc offer guaranteed regular returns, but they don't beat the inflation.
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