Monday, 27 February 2017

India and Germany Ratify 2011 Agreement on Social Benefit

India and Germany Ratify 2011 Agreement on Social Benefit
India and Germany ratified(पुष्टि की)  a comprehensive(व्यापक) Social Security Agreement (SSA) on February 24, 2017 to improve investment flows between the two countries. The SSA which was signed on October 12, 2011 while the instruments of ratification were exchanged (तबदील) on February
24 will be effective from May 2017.  The agreement is expected to reduce the operational costs of Indian and German companies operating in either of the countries.  The agreement will provide the rights and obligations (दायित्वों) to Nationals of both countries for their equal treatment and unrestricted payment of pensions even in case of residence in the other contracting (करार)state. Till now India has signed and operationalized similar agreements with 18 countries including Australia, Canada, France, Germany and Japan.

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