INDIA –BRAZIL SIGNED SOCIAL SECURITY AGREEMENT
India and Brazil signed a Social Security Agreement which will exempt detached workers from making social security contributions in either countries, if they are contributing in their respective countries. Detached workers are sent by their employers to work in the office of their company or an affiliate located in a different country.
The Agreement establishes the rights and obligations of nationals of both countries and provides for equal treatment of the nationals of both countries and unrestricted payment of pensions even in the case of residence in the other contracting state and further the requirements to be entitled to a pension can be met by aggregating the periods of insurance completed in India and Brazil, whereby each country pays only the pension for the insurance periods covered by its laws.
Infact, India has already executed Social Security Agreements with number of countries including France, Portugal, Germany Sweden, Hungary, South Korea, Japan, Austria, Belgium, Finland, Australia, Denmark, Luxembourg, Netherlands, Canada, Norway, Portugal, Switzerland, & Czech Republic.
The Ministry of External Affairs stated that Social Security Agreements will also help promote more investment flows between the two countries and the said the SSA between India and Brazil once in force by early 2018 will also be the first such agreement between the BRICS countries.
The Social Security Agreement was signed in Brasilia, capital of Brazil led by Indian delegation of Mr. K. Nagaraj Naidu, Joint Secretary (Economic Diplomacy), Ministry of External Affairs and the Brazilian delegation was led by Mr. Benedito A. Brunca, Secretary, Social Security Policies, Government of Brazil. The SSA is a major step keeping in view the BRICS summit which would pave away further for BRICS countries to exchange such policies in a harmonious way.
Tags : Agreement Bilateral Social security