Indian workers in Gulf to get insurance cover under MGPSY
A recently launched social security scheme by India for overseas migrant workers holding ECR passports, will give an insurance cover to them under MGPSY
Dubai: A recently launched social security scheme by India for overseas migrant workers holding ECR passports, will give an insurance cover to them in the event of natural, accidental death or permanent disability.
The Mahatma Gandhi Pravasi Suraksha Yojana (MGPSY) will also ensure old-age pension and help workers save regularly for resettlement on their return to India.
The government co-contributes to encourage and support the migrant workers in subscribing to this scheme, the Indian Embassy in Abu Dhabi said in a statement.
“Any Indian national, who is between 18 to 50 years of age and has ECR (Emigration Check Required) passport, and valid work permit or employment contract in UAE, can join this scheme. The Indian worker is required to save between Rs 1,000 to Rs 12,000 per financial year for the pensionary benefits, and Rs 4,000 per annum towards return and resettlement. No contribution is required for life insurance,” it said.
The government provides a co-contribution of Rs 1,000 per annum for the pensionary benefits and Rs 900 per annum for the return and resettlement. An additional co-contribution of Rs 1,000 per annum is provided by the government for overseas Indian women workers for the pensionary benefits.
Bank of Baroda is the main service provider appointed for overseas Indian workers in the UAE, it said.