Tuesday, March 12, 2013

Govt. to introduce new pension, life insurance scheme for overseas Indian workers

Sensing the importance of overseas Indian workers in the country's development, the government of India has recently announced a new pension and life insurance scheme for overseas Indian workers that would allow over five million workers, especially those working in the Gulf, to save money for the future.

Addressing the 10th Pravasi Bharatiya Divas in Jaipur the Prime Minister, Dr Manmohan Singh announced the government's decision to introduce and sponsor the Pension and Life Insurance Fund. “The scheme will encourage the overseas workers to voluntarily save money for their resettlement and old age", Dr. Singh said.

There were over 1,900 delegates from 60 countries present in the seminar.

“The scheme will encourage, enable and assist overseas workers to voluntarily save for their return and resettlement and old age. The scheme, which was recently cleared by the Cabinet, will also provide a low-cost life insurance cover against natural death", he added.

Under the scheme, the government would co-contribute Rs 1,000 per annum for all subscribers who contribute between Rs 1,000 and Rs 12,000 per annum. Overseas women workers would enjoy a special additional co- contribution of Rs 1,000 per annum.

“This scheme fulfils a long-pending demand of our workers abroad," Dr. Singh said.

( Source: InsuringIndia.com )

1 comment:

  1. Realizing the significance associated with abroad Indian native employees within the nation's improvement, the federal government associated with Indian has introduced a brand new type of pension as well as life insurance coverage plan with regard to abroad Indian native employees that could permit more than 5 zillion employees, particularly individuals employed in the actual Beach, in order to save cash for future years.Boat Insurance Southern California


So, what do you think?