KARACHI: It is sensible for working men and women to invest their retirement benefits so that they don't become a liability on society."

This was stated by Professor Dr Shahida Kazi of the Mass Communication Department of Karachi University. The professor retires on September 2. She will be getting Rs1 million in retirement benefits. So does she plan to invest it? "It's safe to have your own money than to be dependent on others. When you stop earning, you become a liability so investment is a good option."

So, where would she invest the gratuity? She says she hasn't thought of it yet. But special saving certificates for pensioners could be a good option. "I don't want to invest in the stock market. I want something safe."

What about NSS?

"I think it's fine, but 6.5 per cent return is too low. A 10.08 per cent profit for senior citizens is not bad, though. Because in the end they are the ones who really need them." But it is the government that changes the rate whenever it feels like. "If they feel they can't afford 10 per cent interest they could bring it down to five per cent and then what will happen to people who have invested. Therefore, when a government makes economic policies, it should keep this in mind and not just GDP growth rates," she said.

Dr Qazi thinks there are other better options besides investing money in government saving certificates. "I can also invest my money in a housing project so that it doubles and I might use it for some good purpose." She plans to invest her money in a housing project so she gets some profit out of it. She plans to make a home for old people who are ill-treated by their children and are a liability on society. "So if I double my amount now by sensibly investing it, maybe then I might be able to fulfil my dreams."

She viewed that the government should keep the problems of old people in mind and start some schemes that actually help them.