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Food delivery platform Zomato and HDFC Pension have jointly introduced the ‘NPS Platform Workers Model’, a new retirement savings initiative targeting gig workers. The program was formally launched on October 1, NPS Diwas, by Finance Minister Nirmala Sitharaman at an event organized by the Pension Fund Regulatory and Development Authority (PFRDA).
Key Features and Onboarding
The collaboration enables Zomato’s delivery partners to register for the National Pension System (NPS), creating a structured path toward retirement benefits. Technology integration has been carried out by Kfintech, the Central Recordkeeping Agency (CRA), to ease on-boarding by leveraging existing KYC or eKYC details of gig workers. Within 72 hours of integration, over 30,000 delivery partners had already generated their Permanent Retirement Account Numbers (PRANs), with Zomato planning to cover more than 100,000 partners by the end of 2025.
Scope of Impact
According to NITI Aayog’s 2022 report, India’s platform workforce is projected to expand to 23.5 million by FY2030, but participation in formal retirement benefits remains minimal. The new NPS model allows small, regular contributions and offers portability, enabling workers to carry forward their accounts as they move between roles.
Leadership Perspectives
Aditya Mangla, CEO of Zomato, said, “Our delivery partners are at the core of Zomato. With HDFC Pension, we’re taking a step beyond daily livelihood towards long-term financial security and assurance in retirement.”
Sriram Iyer, Managing Director and CEO of HDFC Pension, added, “Through the ‘NPS Platform Workers Model’, such individuals can now start planning for their retirement. This model not only enables them to plan for their retirement but also contributes towards bringing a larger section of our population under the umbrella of long-term financial security.”
Current Worker Base and Additional Benefits
Zomato currently engages about 509,000 monthly active delivery partners under its gig-first model. Beyond the NPS initiative, the company has introduced other welfare measures, including health insurance covering hospitalization, critical care, and maternity support, as well as accident insurance up to ₹10 lakh. Delivery partners also have access to a 24×7 SOS system, real-time earnings visibility, infrastructure like 4,500 rest points across cities, and other support facilities.
Data Insights on Gig Worker Coverage
The chart below illustrates Zomato’s current delivery partner base of approximately 509,000, the 30,000 delivery partners who have already generated their PRANs for the NPS Platform Workers Model, and the company's target to onboard over 100,000 delivery partners onto the NPS scheme by the end of 2025. This reflects the scale and ambition of the financial security initiative in the context of the gig economy.
This collaboration is a significant move toward integrating India’s gig workforce into formal retirement planning systems, potentially setting a precedent for other platform-based businesses and addressing a critical gap in social security for independent workers.