Harper Government tables social security agreement with India

May 27, 2013 by

Source: Canada Newswire via Indian Economic Business News

On April 23rd, the Honourable Diane Finley, Minister of Human Resources and Skills Development, tabled in the House of Commons the Social Security Agreement between Canada and India, which will coordinate pension benefits between both countries. “Our government is committed to ensuring retirement security for Canadians, whether here or abroad,” said Minister Finley. “This agreement will reduce the pension contribution costs for Canadian companies sending employees to India and ensure that those same Canadian employees receive the pension benefits they are entitled to for time spent working abroad.” Once in force, this agreement will also make it easier for people who have lived and worked in both India and Canada to qualify for public pension benefits from either, or both, countries. Periods of coverage under the Employees’ Pension Scheme of India may help towards eligibility for Canadian benefits and vice versa. Canada has signed 57 social security agreements; 53 are currently in force. The Social Security Agreement between Canada and India is expected to enter into force in 2014, once both countries have completed their legislative procedures.

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