Social Security Agreements
India is focusing on securing social security agreements across the European Union. These agreements are critical, and the government aims to finalize
them within five years. Such pacts serve a crucial purpose: they safeguard Indian workers’ interests abroad. The initiative is a proactive step, ensuring that skilled Indian professionals working in Europe enjoy the same protections as those in the UK. This also promotes greater social and economic stability for Indian citizens living and working overseas, contributing to their overall well-being. These social security pacts typically encompass areas such as pension, healthcare, and disability benefits, preventing double social security contributions for the same employment period.
UK Pact Success
India's recent success in finalizing a social security pact with the UK has paved the way for similar deals with other nations. This agreement, implemented last year, grants Indian skilled professionals working in Britain a significant advantage. Specifically, it provides a three-year exemption from social security payments. This reduces the financial burden on these workers, allowing them to retain a larger portion of their earnings. The UK pact is a notable achievement, highlighting the Indian government's commitment to supporting its workforce abroad. It has created a beneficial environment for Indian professionals in the UK.
