India, Germany ratify 2011 social security agreement.
India and Germany have ratified the social Security Agreement, which will come into force from 1st May 2017, help to improve more investment flows between both the countries.
The Pact was signed on 12th October 2011 of which the instruments of ratification were exchanged on Friday.
As per official statement of Ministry of External Affairs ,”the agreement establishes the rights and obligations of nationals of both countries and provides for their equal treatment and unrestricted payment of pensions even in case of residence in the other contracting state”
The Agreement is expected to reduce the operational costs of both countries operation in either of the countries.