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Social Security Agreement
News: India and Argentina recently signed a 'Social Security Agreement(SSA)' aimed at safeguarding the legal rights of professionals in each other's domains.
What is Social Security Agreement?
• It ensures that the rights of professionals and workers in both countries are protected against the loss of social security benefits or contributions.
• The growing number of Indian professionals working in Argentina and Argentine nationals seeking employment in India necessitated this legal framework.
• The SSA applies to legislation in both India and Argentina concerning various aspects of social security, including old age, survivor's pension, and permanent, total disability pension for employed persons.
• The agreement provides rights and benefits to detached workers, i.e., employees working in another country on a temporary basis, and their family members. These benefits include cash allowances for retirement or pension, rent, subsidy, or lump sum payments, all as per local legislation, without any reduction, modification, suspension, suppression, or retention.
• The SSA establishes the legal framework for regulating the insurance period, which includes the period of services credited with contributions, contributory benefits, and their export for detached workers. This framework also covers crew members of airlines and ships.
• The agreement addresses legislation concerning contributory benefits of the Social Security System in Argentina.
• The agreement would protect the rights of professionals and workers against loss of benefits or contributions made towards social security in both countries and thus facilitate greater movement of professionals and the labour force.