Zomato, HDFC Pension introduce National Pension System model for delivery partners

New Delhi: Zomato, in collaboration with HDFC Pension, has launched the ‘NPS Platform Workers Model’ to extend formal retirement benefits to its delivery partners.

The initiative was unveiled by Finance Minister Nirmala Sitharaman at an event hosted by the Pension Fund Regulatory and Development Authority (PFRDA) on October 1.

According to Zomato, over 30,000 delivery partners have already generated their Permanent Retirement Account Numbers (PRANs) within 72 hours of integration. The company aims to onboard more than 1 lakh partners into the National Pension System (NPS) by 2025. Zomato currently supports an average of 5.09 lakh independent monthly ac-tive delivery partners under its gig-first model.

The move comes as India’s gig workforce is expected to reach 23.5 million by FY 2030, as per a NITI Aayog report. De-spite this rapid growth, retirement savings among gig workers remain negligible due to limited awareness and access to formal schemes.

Under the model, Zomato’s delivery partners can build long-term financial security with options for lump sum benefits and monthly pensions at retirement. Flexibility to make small contributions, as well as portability of benefits across jobs, adds to the scheme’s appeal.

Digital integration enables seamless onboarding using existing KYC or eKYC records with workers’ consent, while addi-tional details can be furnished later.

Sriram Iyer, MD & CEO, HDFC Pension, said the initiative will bring more individuals under formal retirement planning. “This model empowers gig workers to plan for their future while promoting long-term financial inclusion,” he noted.