Zomato and HDFC Pension have teamed up to roll out the ‘NPS Platform Workers Model,’ an innovative initiative designed to offer formal retirement benefits to Zomato’s dedicated delivery partners.
This groundbreaking model was officially unveiled on October 1 by Finance Minister Nirmala Sitharaman, during an event hosted by the Pension Fund Regulatory and Development Authority (PFRDA).
Zomato proudly announced that over 30,000 delivery partners have already secured their Permanent Retirement Account Numbers (PRANs) within just 72 hours of the program’s launch. The company aims to help more than 100,000 delivery partners open their NPS retirement accounts by the end of 2025.
Zomato operates on a gig-first business model, supporting an impressive average of 509,000 independent monthly active delivery partners as of the first quarter of fiscal year 2026.
A recent NITI Aayog report projects that India’s platform worker population will swell to 23.5 million by FY 2029-30. Currently, there’s a significant lack of awareness and access to formal retirement benefits for these workers, leading to extremely low retirement savings rates among this crucial workforce segment.
This new partnership will empower Zomato’s independent gig workers with vital long-term financial security. They will gain access to retirement benefits such as a lump sum payment and a monthly pension, along with the flexibility to make small, regular contributions to their accounts.
Furthermore, looking ahead, the model offers delivery partners the valuable option of portability. This means they can seamlessly carry their retirement benefits forward as their careers evolve.
To ensure a smooth and effortless enrollment, a digital integration has been implemented. This allows for the use of existing KYC or eKYC details of gig workers, with their consent, during the PRAN generation process, as stated by Zomato. Any additional information can be submitted by the gig workers later.
Sriram Iyer, Managing Director & CEO of HDFC Pension, emphasized the importance of this initiative: “Many individuals currently lack access to formal retirement planning tools. The ‘NPS Platform Workers Model’ offers these individuals a pathway to proactively plan for their retirement. This model not only supports their future financial well-being but also extends the reach of long-term financial security to a broader segment of our population.”