Cabinet approves Social Security Agreement between India and Brazil

On December 11, 2019, the Union Cabinet chaired by PM Modi gave its approval for signing Agreement on Social Security between India and Brazil. The Social Security Agreement is being signed by India with several other countries in order to protect the interests of the professionals and skilled workers living abroad

Highlights of the agreement

There are around 4.700 Indians living in Brazil and 1,000 Brazilians living in India. The agreement would promote inclusiveness and equity for the Indians living in Brazil and vice versa.

The agreement also allows export of social security benefits of the Indian workers after they relocate from Brazil.

Background

The idea of signing social security agreements conceived in the BRICS Labor and Employment Minsters meet that was held in June 2016 in New Delhi. It was also insisted at the 8^th BRICS summit. It was after this summit India and Brazil began their negotiations and finalized the text of Social Security Agreement.

Benefits

The agreement helps to avoid double social security contributions made by the workers. It also avails easy remittance of benefits offered by the governments of the respective countries. The agreement also allows the NRIs to aggregate the contribution periods. This will help to avoid loss of benefits.

Month: Current Affairs - December, 2019