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Reverse mortgage: A good option

Reverse mortgage helps senior citizens meet their financial needs without parting with their savings, which is the house.

Earlier, estimates of EPFO had suggested that the immediate beneficiaries who were getting less than Rs 1,000 would be 28 lakh.
The Employees' Provident Fund Organisation (EPFO) and the Labour Ministry are in touch with the Prime Minister's Office for the purpose, a senior official said.
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The order also stated that every employer will provide core banking account number with IFSC code of bank branch in respect of every new member on joining the Fund.
Till now, employees had to run from pillar to post in many cases to get their service record verified.
EPFO had provided 8.75 per cent rate of interest on PF deposits for 2013-14 and 8.5 per cent on deposits for 2012-13.
The Centre raised the retirement age of its employees to 60 from 58 years way back in 1998.