Mahatma Gandhi Pravasi Suraksha Yojana
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
- save for their return and resettlement,
- save for their old age and
- 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.