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Two new showrooms/office spaces, double height (135 sq m each with bath) for lease in upscale Campal/Miramar beach area, Panaji, Goa. Contact: goaengineer...@aol.com ------------------------------------------------------------------------ http://timesofindia.indiatimes.com/news/city/goa/Pensions-for-NRGs-mooted-in-new-bill/articleshow/4992927.cms Pensions for NRGs mooted in new bill Joaquim Fernandes10 September 2009, 05:58am IST PANAJI: The NRI Cell in Goa has drafted the Goa (non-resident Goans) Welfare Bill for the constitution of a welfare fund to pay pension and other benefits to non-resident Indians of Goan origin, who return and settle permanently in Goa. The bill stipulates that every non-resident Goan (abroad) member should contribute Rs 300 per month and every NRG (abroad) member returning from abroad and settling permanently in Goa shall pay Rs 100 per month to the fund as contribution. Every NRG in India must contribute Rs 100 to the fund. No withdrawal can be made from the fund for a period of five years. The government will contribute to the fund every year by way of grant amounting to two per cent of the contribution to the fund. Every NRG who has completed 18 years of age but not completed 55 years, is eligible to register his name as a member of the fund. Sources in the Goa NRI Cell said that the bill has already been vetted by the law department. It has no financial implications to the government in the beginning and the amount of pension will depend on the contribution just like in contributory provident fund. The bill will be put up in the next session of the legislative assembly. The fund will be used for payment of pension to members who complete 60 years of age, and had contributed for not less than five years. The fund will also be used for payment of family pension on the death of a member who had contributed for not less than five years. The fund will also be used for the refund of the amount contributed by the member who had become unable to work for more than two years due to permanent physical disability or died while being a member or had completed 60 years of age. The fund may also be used for the payment of financial assistance on the death of a member due to illness or accident or for medical treatment of the members affected with serious illness. It may be used for payment of financial assistance for the marriage of women members and members' daughters and for maternity benefit of women members. Other uses of the fund include advancement of loans to members for construction of dwelling houses or for purchase of land or for education facilities including higher education to members' children. The fund may find other uses as may be specified in the scheme that will be designed and notified under the act. The membership will be cancelled in case of continued default in contribution for one year or more. It shall also be cancelled if a member commits any offence punishable under the act. The act proposes the constitution of a Goa Non-Resident Goan Welfare Board with six directors for the administration of the fund. The board will comprise two directors representing NRGs (abroad), one director representing NRGs (India), two government representatives and the chief executive officer of the board.