The objectives of Mahatma Gandhi Pravasi Suraksha
Yojana (MGPSY) is to encourage and enable overseas Indian workers having
Emigration Check Required (ECR) passports going to ECR countries, to
(a) save for their return and resettlement, (b) save for their old age
and (c) obtain a Life Insurance cover against natural death during the
period of coverage.
The scheme envisages a co-contribution of Rs.1000/- by Government to
overseas Indian workers who save Rs.4000/- per annum so that on return
to India, a MGPSY subscriber can utilise these savings for return and
resettlement purposes, and also get benefits on the lines of Swavalamban
pension Scheme, for which also Government contributes Rs.1000/-
(Rs.2000/- in case of females) for a pension contribution of between
Rs.1000/- and Rs.12, 000/- by the subscriber.
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