Senior citizens need govt support for social security: SBI Ecowrap By IANS | 3 Views Old age pension.. Image Source: IANS News New Delhi, April 16 : With country's population of old set to double over the next few decades, government should look to provide complete tax waiver on senior citizen savings scheme (SCSS) and help the elderly build some sort of social security, said the SBI Ecowrap report. According to the report, the share of India's elder or senior citizen population is increasing from 8.6 per cent in 2011 to 15.9 per cent in 2041. This, the report said, will pose a huge challenge for policy making at social and economic levels and, therefore, it is necessary to build incentives around small savings schemes, which are most popular form of financial savings of households in India.