India, France finalise social security agreementAugust 30th, 2008 - 12:21 am ICT by IANS
New Delhi, Aug 29 (IANS) India and France have concluded negotiations on a social security agreement that will allow nationals to be exempt from double payment of social security contributions and transfer of pension benefits.The ministry of overseas Indian affairs officials held talks with a five-member French delegation from Aug 26 to Aug 29. The French delegation was led by Kata Julienne, head of division of EU and international affairs, social security directorate, French ministry of labour, labour elations, family and solidarity.
India has so far signed a social security agreement with Belgium. It has finalised the draft for similar agreements with three other European countries - Germany, Netherlands and Czech Republic.
According to official sources, the agreement will ensure that short-term workers of 60 months will be exempted from social security contributions on reciprocal basis.
“Besides, it will also allow exportability of pension benefits, which will mean that workers can avail of pension benefit even if they change their residence between the two countries,” said a senior MOIA official.
The agreement will also allow the “totalisation of periods of contributions made in both countries for calculating eligibility of pensionary benefits”.
It is likely that the agreement will be signed when Prime Minister Manmohan Singh goes to Paris to take part in the annual India-EU summit in September.