The Ministry of
Overseas Indian Affair launched a scheme named Mahatma Gandhi
Pravasi Suraksha Yojana in dubai The scheme is a pension
and life insurance fund scheme for blue-collar Indian workers in UAE.
What is Mahatma Gandhi Pravasi Suraksha Yojana (MGPSY)?
MGPSY is a special social security scheme for overseas Indian
workers who are on temporary work permit in 17 Emigration Check Required (ECR)
nations.
Aim: To help the overseas workers to save money for their
retirement, their return to india and resettlement and provides life
insurance cover against natural death during the period of coverage.
Features of Mahatma
Gandhi Pravasi Suraksha Yojana (MGPSY):
§ The
subscribers of this scheme will be provided home and a life insurance cover for
Rs. 1 lakh during their work overseas.
Government
of India will contribute up to Rs. 2000 every year for male workers and Rs.
3000 every year to women workers for up to either five years or until the
worker returns home, whichever is earlier. It will be added to the Pension and
Life Insurance (PLIF) account of each eligible subscriber.
§ The
workers have to contribute between Rs. 1000 and Rs. 12000 per annum towards the
pension fund and Rs. 4000 towards the return and resettlement fund. They will
derive corresponding benefits when they go back home and during their old age.
§ Bank of
baroda is the official banking partner of the scheme to enroll the
workers while the Indian Workers Resource Centre (IWRC) is the support center
for Indian workers in UAE.
§ The
scheme targets to cover 5
million overseas blue collar
Indian workers who have the Emigration Clearance Required (ECR) category
passports in 17 nations.
What is Emigration Clearance Required (ECR) category?
Emigration Clearance Required (ECR) category passports are
issued to those workers who have not passed Grade 10. Around 65% of more than 2 million Indians in the UAE are blue
collar workers and most of
them are in the ECR category.
What are Blue collar jobs?
Blue collar is a
term which is used to refer to wage-earning workers who wear work clothes or
other specialized clothing on the job, as miners, mechanics and longshoremen.
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