A At this moment the number of senior citizens are not known to me.I guess the figure may be around fifty crore including men and women Out of which maximum three crore are pension holders including central and all states.
Firstly there is a wide difference between last pay drawn and the pension amount of an employee. The pension amount worked out about one fourth of the last salary. As a result the pension holders depend largely on the interest of fixed deposits to run their families.
Another section of senior citizens though were in service but not pension holders. Hence they are entirely dependent on interest.
Another large section of senior citizens were in unorganised sectors and in agricultural sectors where the question of retirement benefits do not arise .
They out of their hard savings make it fixed deposits. It is needles to mention that all the senior citizens pass through financial constraints.
Firstly as a law of nature most of them suffer from various ailments for which substantial amounts are spent on medical expenses. Apart from that there are family obligations and social obligations are also being met.Most of them are entirely dependent on interest .While the interest rates are being reduced at a regular intervals.
As a result , the monthly income having been reduced at a regular basis . The existence of the majority section of senior citizens are at a stake.
I would therefore , pray to the appropriate Authorities kindly to examine the cases and arrange to ensure a financial security for the old People so that they can meet the obligations and enjoy little comfort at the fag end of lives .
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