Retired couples can earn Rs 8,00,000 from select govt investment schemes

Equities, debt MFs and annuities should also be part of portfolio

The doubling of the investment limit for Senior Citizens Savings Scheme (SCSS) to Rs 30 lakh and Post Office Monthly Income Scheme (POMIS) to Rs 9 lakh per investor in the Budget may seem like a bonanza for risk-averse investors. While the former is reserved exclusively for senior citizens and pays interest quarterly, the latter is open to anyone seeking monthly income payout and attracts many senior citizens.

In addition, senior citizens can also invest up to Rs 15 lakh in Pradhan Mantri Vaya Vandana Yojana (PMVVY). Altogether, a male senior citizen can invest Rs 54 lakh. The limit rises further to Rs 56