Pension scheme for overseas Indian workers to take
Bangalore: A meeting of Indian Ambassadors has been convened on Monday to discuss measures to fast track the pension scheme for overseas Indian workers, Minister for Overseas Indian Affairs Vayalar Ravi said Saturday.
Ravi said though the "Mahatma Gandhi Pravasi Suraksha Yojana" (MGPSY) for Indian workers holding Emigration Check Required (ECR) passports and a valid work permit in an ECR country has been launched, its implementation has "gone slow".
Now, the Government wants to accelerate the enrolment by such workers and wants the "resettlement" scheme to "take-off" as it would give them a lumpsum when they return and provide pension.
"I am going to have a meeting of my Ambassadors on September 17 and there we will make announcements (measures to boost enrollment)," he said.
According to officials, by providing a co-contribution from the Government, this scheme encourages and enables Overseas Indian Workers to save for their return and resettlement and to save for their old age.
This also provides a free life insurance cover against natural death during the period of coverage, under the scheme.
More from India
More from World
More from Sports
More from Entertaiment
- PM Narendra Modi's speech at Heart of Asia conference
- Is population control next on central govt's agenda after demonetization?
- Gujarat: Goods train engine catches fire in Surat
- India-Afghanistan thrash Pakistan over terrorism issue in Heart of Asia conference
- Watch: Tracing the journey of Tamil Nadu CM Jayalalithaa from films to politics
- RIP Amma: Jayalalithaa dies after 75 days in hospital; Tamil Nadu mourns
- Fake or Real? 'Alien animal' caught on Karnataka-Kerala border
- People want to know whether Jayalalithaa is alive or not; PM Narendra Modi must intervene, says expelled AIADMK MP Sasikala Pushpa
- Tamil Nadu CM Jayalalithaa's condition continues to remain critical after suffering cardiac arrest
- I-T department rejects declaration of Rs 2,00,000 crore made under IDS by Mumbai family