My Father retired from his service recently. Need suggestion to invest his provident fund for his financial independence. My parent monthly expense is 25k and his pf fund is 35 lakh. His pension will start in 3-6 months which would be around 13k monthly. As of now planned for 15lk to SCSS and Postal monthly Income plan for 9lk and 3 lakh as FD for immediate emergency. Both have health insurance taken from private provider. Thanking you in anticipation.
I suggest you to keep aside around Rs.5 lakh minimum as an emergency fund. Because they need health caring more than their earlier life. If your requirement is immediate monthly fixed return, then you can check with LIC’s Jeevan Akshay VI. Refer my post “Jeevan Akshay VI – LIC’s Single Premium Pension Plan Reintroduced“.