India and Portugal Sign Social Security Agreement
On 14th June 2021, India and Portugal signed a social security agreement that will allow for the seamless transfer of social security benefits between the two nations. The agreement was signed virtually by Indian Minister of State for External Affairs, V. Muraleedharan, and the Minister of State for Social Security of Portugal, Gabriel Bastos.
The agreement is expected to benefit over 5,000 Indians living in Portugal and Portuguese nationals living in India. It will ensure that they are not deprived of their social security benefits due to their geographical locations. The agreement will cover areas such as retirement pension, disability, and survivor benefits.
India has been working towards signing social security agreements with several nations, particularly countries where there is a significant Indian diaspora. The signing of the agreement with Portugal marks India`s 23rd such agreement, and the first with a European Union member state.
The agreement will also benefit Indian workers in Portugal who contribute to the social security system in Portugal. They will be able to avoid paying double contributions to both India and Portugal. The agreement will also allow for the totalization of social security contributions, which means that the period of contribution in both countries will be added together, making the worker eligible for social security benefits.
The agreement also outlines a mechanism for resolving disputes related to social security benefits between the two nations. The competent authorities of both India and Portugal will work together to resolve such disputes amicably.
The signing of the social security agreement between India and Portugal is a significant step towards enhancing bilateral ties between the two nations. It will provide a foundation for stronger economic and social cooperation and will benefit Indian and Portuguese citizens living or working in each respective country.
In conclusion, the India-Portugal Social Security Agreement is undoubtedly a welcome development for both countries. It is a significant step towards strengthening ties between India and Portugal and ensuring that their respective citizens are not deprived of their social security benefits due to their geographical locations. The agreement will bring relief to thousands of people and further the cause of cooperation between India and Portugal.
