A Senior Citizens Welfare Fund (SCWF) has been established under the Finance Act, 2015.

The Fund Shall be utilised for such schemes for the promotion of the welfare of Senior citizens in line with the National Policy on Older Persons and the National Policy on Senior Citizens.

The unclaimed money lying under Small Savings Schemes, Employees Provident Fund, Public Provident Fund schemes, Life and non-life insurance schemes or polices maintained by insurance companies and accounts of Coal Mines Provident Fund is transferred into Senior Citizens’ Welfare Fund.

Administration of Fund-

The nodal Ministry for the administration of the Fund shall be the Ministry of Social Justice and Empowerment. Senior Citizens Welfare Fund shall have its secretariat located in the Ministry of Social Justice and Empowerment.

The Fund shall be administered by a Committee whose ex-officio chairman shall be Secretary in the Ministry of Social Justice and Empowerment. This Committee shall meet at least twice a year.