Social Security Agreement between India and United Kingdom: A Brief Insight
On 4th October 2019, India and the United Kingdom signed a significant agreement related to Social Security. The agreement aims to provide social security benefits to the citizens of both countries who reside in the UK or India.
Key Features of the Agreement
Under this agreement, both the countries will mutually recognize the social security contributions made by citizens of both countries. It means that if an Indian citizen has worked in the UK and has made social security contributions, then they can transfer the same credits to their Indian social security account.
Similarly, if a UK citizen has worked in India and has contributed to the social security account, then they can transfer the same credits to their UK social security account. The agreement is particularly beneficial for those who are moving from one country to another for job-related purposes.
The agreement further provides for certain benefits related to retirement, disability, and survivor’s pension. It means that if a person has contributed to the social security account of one country and has retired in the other country, then they will receive the benefits of both countries. Moreover, if a person becomes disabled or dies while working in one of the countries, their family members will be entitled to receive the benefits of the social security account.
Impact of the Agreement
The Social Security Agreement between India and the United Kingdom is expected to benefit thousands of citizens residing in both countries. The agreement will ensure that they receive the social security benefits they deserve and are entitled to. Moreover, it will also encourage people to move between the two countries for work purposes as they will not have to worry about losing their social security benefits.
The agreement will also strengthen the economic relations between the two countries, as it will provide more opportunities for people to work in both countries. It will further lead to the exchange of knowledge and expertise among social security agencies of both countries.
Conclusion
The Social Security Agreement between India and the United Kingdom is a significant step towards ensuring the welfare of citizens of both countries. It will provide them with the much-needed security and benefits related to social security. The agreement is expected to benefit thousands of people who are working or planning to work in either of the countries. It is a positive development that will strengthen the economic ties between India and the United Kingdom.