India, Germany Ratify 2011 Pact on Social Security Investment (Download PDF)

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India and Germany ratified a comprehensive Social Security Agreement (SSA). It is to improve investment flows between two countries. The agreement is expected to reduce operational costs of Indian and German companies active in either of countries.

India, Germany ratify 2011 Pact of SSA

India, Germany Ratify 2011 Pact of SSA

India, Germany ratify 2011 Pact of SSA

Highlights

  • Agreement establishes rights and obligations of nationals of both countries and provides for their equal treatment and unrestricted payment of pensions.
  • Payment of pensions also in case of residence in other contracting state.
  • It also integrate provisions of 2008 social insurance pact and is expected to reduce operational costs of companies on both countries active in either of the countries.
  • Requirements to be entitled to pension can be met by aggregating periods of insurance completed in India and Germany, where each country only pays pension for insurance periods covered by its laws.
  • It is favorably impact profitability and competitive position of Indian and German companies with foreign by reducing their cost of doing business abroad.
  • It will help promote more investment flows between two countries.
  • India has signed and operationalized Social Security Agreements (SSAs) with 18 countries - Australia, Austria, Belgium, Canada, Czech Republic, Denmark, Finland, France, Germany, Hungary, Japan, Luxembourg, Netherlands, Norway, Portugal, Sweden, Switzerland, and South Korea.

About Germany

Germany flag, location, details

Germany Flag, Location, Details

Germany flag, location, details

  • Germany is a Western European country with a landscape of forests, rivers, mountain ranges and North Sea beaches.
  • Capital: Berlin
  • Official language: German
  • President: Joachim Gauck
  • Chancellor: Angela Merkel
  • Upper house: Bundesrat
  • Lower house: Bundestag
  • Currency: Euro (€)
  • Motto: Unity and Justice and Freedom
  • Major rivers: Rhine, Elbe, Main, Danube
  • Industry: Iron, steel, coal, cement, chemicals, machinery, vehicles, machine tools, electronics
  • Agriculture: Potatoes, wheat, barley, sugar beets; cattle
  • Exports: Machinery, vehicles, chemicals, metals and manufactures, foodstuffs, textiles.

- Published/Last Modified on: March 17, 2017

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