Mahatma Gandhi Pravasi Suraksha Yojana

Mahatma Gandhi Pravasi Suraksha Yojana was a special social security scheme which included Pension and Life Insurance, introduced by Ministry of Overseas Indian Affairs for the overseas Indian workers in possession of Emigration Check Required (ECR) passports.[1]

It ws a voluntary scheme designed to help workers to meet their three financial needs: saving for retirement, saving for their return and resettlement, and providing free life insurance offering coverage for death from natural causes.[2]

The scheme was discontinued by the Government of India, in 2017 due to very low subscriber numbers and lack of interest.

References

  1. ^ "Mahatma Gandhi Pravasi Suraksha Yojana (MGPSY)". Ministry of Overseas Indian Affairs. Archived from the original on 21 November 2012. Retrieved 29 June 2014.
  2. ^ "Mahatma Gandhi Pravasi Suraksha Yojana". Press Information Bureau, Government of India. Retrieved 29 June 2014.
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