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India, Denmark to sign social security pact

New Delhi, Feb 16 (Calcutta Tube) India and Denmark are set to sign a new pact under which their workers will only have to make social security contributions in the country of origin and not where they work, and thereby avoid losing out on their emoluments.

‘Over 100 Danish companies have established themselves in India. I’m therefore convinced Danish firms will benefit from improved conditions for labour mobility between Denmark and India,’ said Denmark’s Minister for Employment and Gender Equality Inger Stojberg.

‘Under the new pact Indian and Danish workers on short term contracts won’t be required to make any social security contribution in the country of employment if they continue to make social security payments in the country of their origin,’ she said.

‘It will also enable portability of pensions,’ the visiting minister said, ahead of the signing of the Social Security Agreement here Wednesday at the ministry of overseas Indian affairs.

The two countries already have a comprehensive labour mobility partnership pact, signed in October 2009, for labour market expansion and employment facilitation.

Stojberg said she was looking forward to contributing towards creating best possible conditions for Danish commerce and promoting bilateral cooperation between trade and industry of the two sides.

‘India is a mega-market for almost every product and service. It is a platform for cost-cutting through outsourcing, and increasingly, it is a platform for global research and development activities,’ she added.

Stojberg said she was also looking forward to a meeting with Minister of State for Women and Child Development Krishna Tirath, to discuss a number of issues, including how India and Denmark can cooperate globally on ensuring women’s basic rights.

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