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बेसिक इंग्लिश का दूसरा सत्र (कक्षा प्रारंभ : 22 अक्तूबर, शाम 3:30 से 5:30)
Pension scheme for Dubai Diaspora coming soon
Oct 22, 2013

The Indian government is setting to launch Mahatma Gandhi Pravasi Suraksha Yojana, a pension and life insurance fund scheme for blue collar Indian workers in UAE on October 28.  The scheme will cover around 5 million Indian workers. The UAE will be the first foreign nation where the scheme is being launched officially.

The objective of the scheme is to - save for their Return and Resettlement (R&R); save for their old age and to obtain a Life Insurance cover against natural death during the period of coverage.

The Indian workers who belong to the Emigration Clearance Required (ECR) category passports i.e. those workers who have not passed Grade 10 will be enrolled in the pension scheme. Around 65 per cent of more than two million Indians in the UAE are blue collar workers and most of them are in the ECR category.

The Indian Government will contribute up to 2,000 rupees every year for male workers and 3,000 rupees every year to women workers for up to either five years or until the worker returns home, whichever is earlier. The contribution will flow to the individual Pension and Life Insurance (PLIF) account of each eligible subscriber.  The workers will have to contribute between 1,000 rupees and 12,000 rupees per annum towards the pension fund and 4,000 rupees towards the return and resettlement fund. They will derive corresponding benefits when they go back home and during their old age.

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