Social Security Agreement between India and Australia

January 2016, National
In Brief:

A new social security agreement signed between India and Australia has come into operation enabling people of both nations to avail retirement benefits in each other’s country, a pact likely to boost bilateral business linkages.

Australian Minister for Social Services Christian Porter and Minister for Small Business and Assistant Treasurer Kelly O’Dwyer said the Commonwealth governments wanted to make sure people who lived and worked in more than one country were not disadvantaged.
The Agreement signed in November 2014 came into operation on January 1, 2016.
 “This agreement will give people more freedom to move between Australia and India, knowing their pension rights will be recognised and protected,” Mr. Porter said.
“Australian residents living in India will be able to claim the Australian Age Pension without having to return to Australia, while Indian residents living in Australia will have access to Indian retirement pensions. It’s a win-win,” he said.
Citing that ties will improve business linkages, Ms. O’Dwyer said, “As a result of this agreement, temporarily seconded workers, and their employers, will only have to make compulsory contributions into their home country’s superannuation or pension system rather than both countries’ systems.”


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