Mahatma Gandhi Pravasi Suraksha Yojana

The Mahatma Gandhi Pravasi Suraksha Yojana is an initiative that has been introduced by the Overseas Indian Affairs Ministry to create a fund for pension and insurance. The beneficiaries of this fund would be Indian workers who work overseas and who are in possession of ECR (emigration check required) passports.
The main objective of the MGPSY is to motivate and support the Overseas Indian Workers to make Government Contributions for the following purposes:

• Plan and save for their Return and Resettlement (R&R).
• Plan for their grey-haired days.
• For getting life insurance as a cover against natural death that may occur during the coverage period.
• Overseas Indian Workers can make contributions to the Government through MGPSY for a maximum period of 5 years or till the period they return to India, earlier of the two.

Some of the main highlights of MGPSY are:

• Subscribers who get to save anywhere between Rs 1000 and Rs 12000 for a year in NPS-Lite to get a government contribution of Rs 1000 for a year as per Swavalamban platform.
• Indian women workers overseas who save anywhere between Rs 1000 and Rs 12000 for a year in NPS-Lite to get extra government contribution of Rs 1000 for a year by the Overseas Indian Affairs Ministry.
• Overseas Indian Workers who save a minimum of Rs 4000 for a year to get a special government contribution of Rs 900 by the Overseas Indian Affairs Ministry towards R&R (Return and Resettlement).