Zomato and HDFC Pension have launched the 'NPS Platform Workers Model' for delivery partners, enabling them to access formal retirement benefits. Finance Minister Nirmala Sitharaman inaugurated this model on October 1. In the first 72 hours, over 30,000 delivery partners obtained their PRAN numbers.
NPS model: Online food delivery company Zomato and HDFC Pension have introduced the 'NPS Platform Workers Model' for delivery partners, to provide them with formal retirement benefits. This initiative was formally launched by Finance Minister Nirmala Sitharaman on October 1 at an event organized by the Pension Fund Regulatory and Development Authority (PFRDA). In the first 72 hours, over 30,000 delivery partners created their PRAN numbers, and the company aims to increase this number to over one lakh by the end of 2025.
Formal Launch of the Model
This new model was formally introduced by Finance Minister Nirmala Sitharaman on October 1 at an event organized by the Pension Fund Regulatory and Development Authority (PFRDA). Zomato stated that within 72 hours of the initiative's launch, over 30,000 delivery partners created their PRAN (Permanent Retirement Account Number). The company also added that they are committed to onboarding over one lakh delivery partners with their NPS retirement accounts by the end of 2025.
Growing Number of Platform Workers
Zomato operates on a gig-first model, supporting an average of 5,09,000 independent monthly active delivery partners as of Q1 FY26. According to a NITI Aayog report, the number of platform workers in India is estimated to grow to 2.35 crore by FY 2029-30. This figure indicates a rapid increase in the number of gig workers in the coming years.
Lack of Formal Retirement Planning
Currently, access to formal retirement benefits is very limited among platform workers. Consequently, the retirement savings rate in this segment is almost negligible. This new initiative will now enable gig workers to begin their retirement planning in a simple and organized manner.
Benefits for Gig Workers
Sriram Iyer, MD & CEO of HDFC Pension, stated that not everyone has access to formal retirement planning. Through the 'NPS Platform Workers Model,' gig workers can now plan for their retirement. This model will not only provide them with financial security for the future but also contribute to bringing a large segment of the country under the umbrella of long-term financial security.
Under this scheme, delivery partners will have the option for regular contributions and will receive market-linked returns on their contributions over time. At retirement, they will be paid as a pension, which can be taken as a monthly payout or a lump sum.
Awareness and Training Programs
To make this initiative successful, Zomato has also launched training and awareness campaigns among its delivery partners. The objective of this campaign is for every worker to clearly understand the scheme's process, contributions, and benefits. This will give employees the confidence to secure their financial future.
Digital Platforms and Social Security
This initiative clearly demonstrates that digital platform companies are taking serious steps towards the social security of their workers. In the future, such models will serve as a guide for other companies as well. This will pave the way for financially empowering workers in India's informal sector.
