FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com


Join the forum, it's quick and easy

FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com
FINANCIAL CHRONICLE™
Would you like to react to this message? Create an account in a few clicks or log in to continue.
FINANCIAL CHRONICLE™

Encyclopedia of Latest news, reviews, discussions and analysis of stock market and investment opportunities in Sri Lanka

LISTED COMPANIES

Submit Post



Poll

Can there be another Covid-19 wave in Sri Lanka?

Benefits for Children of Senior Citizens Vote_lcap68%Benefits for Children of Senior Citizens Vote_rcap 68% [ 178 ]
Benefits for Children of Senior Citizens Vote_lcap18%Benefits for Children of Senior Citizens Vote_rcap 18% [ 47 ]
Benefits for Children of Senior Citizens Vote_lcap13%Benefits for Children of Senior Citizens Vote_rcap 13% [ 35 ]

Total Votes : 260

STOCK MARKET TRAINING
ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post


CONATCT US


Send your suggestions and comments

* - required fields

Read FINANCIAL CHRONICLE™ Disclaimer



Latest topics

» CLC - worth the Investment
by The_Sage Today at 12:10 am

» SOFTLOGIC CAPITAL PLC (SCAP.N0000)
by kanishkaecomm Yesterday at 11:33 pm

» LLUB comparison between 2016- 2021 Same EPS Trading at Huge discount
by rajithasahan Yesterday at 11:33 pm

» Scap vs lofc
by kanishkaecomm Yesterday at 11:32 pm

» HSenid IPO
by rajithasahan Yesterday at 11:24 pm

» Lanka Milk Foods PLC
by Harry82 Yesterday at 10:40 pm

» LMF vs LAMP
by Harry82 Yesterday at 10:38 pm

» SIERRA CABLES PLC (SIRA.N0000)
by DDS10 Yesterday at 10:31 pm

» R I L PROPERTY PLC (RIL.N0000)
by cseguide Yesterday at 9:37 pm

» BAIRAHA FARMS PLC (BFL.N0000)
by EPS Yesterday at 9:35 pm

» Shares to Buy
by cseguide Yesterday at 9:34 pm

» Renuka Agri Products
by soileconomy Yesterday at 9:29 pm

» LOFC Direction
by RAVI1980 Yesterday at 7:46 pm

» EXPOLANKA HOLDINGS PLC (EXPO.N0000)
by Julie Yesterday at 7:43 pm

» Dialog - Most under valued share
by Harry82 Yesterday at 7:36 pm

» EXPOLANKA HOLDINGS PLC (EXPO.N0000)
by Julie Yesterday at 6:57 pm

» KZOO 32.8% Upside
by Swissinvest Yesterday at 4:25 pm

» EXPO/BILL/LOLC
by nish84 Yesterday at 2:44 pm

» provisions already made to retire 2022 foreign debt in full - Cabraal
by samaritan Yesterday at 1:53 pm

» CABO - Cargo Boat sets sail
by samaritan Yesterday at 12:58 pm

EXPERT CHRONICLE™

MARKET CHAT


CHRONICLE™ ANALYTICS


ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)


CHRONICLE™ YouTube

LATEST TWEETS

You are not connected. Please login or register

FINANCIAL CHRONICLE™ » FUN CHRONICLE™ » Benefits for Children of Senior Citizens

Benefits for Children of Senior Citizens

Go down  Message [Page 1 of 1]

1Benefits for Children of Senior Citizens Empty Benefits for Children of Senior Citizens Sun Feb 01, 2015 7:03 pm

Senior Citizen

Senior Citizen
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Social Impact after increase of interest for Senior Citizens


Most senior citizens above the age of 60 years must be gleefully awaiting the new legislation to avail themselves of the benefit afforded in the Mini Budget. As stated, the interest rates paid today are in the range of 7 - 9 percent p.a. On fixed deposits in a reputed finance institution.

The increase of the interest rates to a minimum of 15% p.a. For a maximum of LKR. 1 million is appreciated. The pensioners that I have personally spoken to are eagerly looking forward to this benefit. At least apart from the pension increase of Rs.2500/- and Rs. 1000/- respectively, this interest component will substantially increase their earnings and defray their high cost of living expenses, especially medical.

Now come the social impact.
We also know that not all people earn a pension and certainly most elderly have absolutely no means of income after 60. Some have never ever worked.
So that leaves quite a population of elderly over 60 with no benefit it at all after this increase in the rates of interest on fixed deposits.

What are some of the social changes that will take place?
The only way to get this benefit is for the children of these senior citizens to open up fixed deposits under the name of their parents or in-laws and place their own names as beneficiaries. So in the event the parents or in-laws do have to die their monies will be safe.

Now comes the best part!
You will find that the younger population  who are unmarried or married having better relationships with their parents and in-laws. I find it very amusing to see how far thinking decisions The two RR's are making in favour of the most neglected population viz. The elderly.

So my advice to all you younger generation, ensure that your parents and in-laws are closer to you as to that extent one can make a buck.

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum