If you drive a cab for Ola, deliver food for Swiggy, or freelance as a designer on Fiverr, there's some good news for you. For the first time, India's gig and freelance workers can start building their own pension savings under the National Pension System (NPS), thanks to a new model launched by the Pension Fund Regulatory and Development Authority (PFRDA).

Called the "NPS e-Shramik (Platform Service Partner) Model, this initiative is designed to bring millions of gig workers, who often miss out on traditional retirement benefits, under a secure and flexible savings plan.

A Growing Workforce, but Little Security

India's gig economy has exploded over the past few years. From delivery partners and cab drivers to content creators and tech freelancers, more people are choosing independence over 9-to-5 jobs.

According to NITI Aayog, India's gig workforce, which stood at 7.7 million in 2020, could grow to a massive 23.5 million by 2030.

But there's a catch: most gig and platform workers don't have access to the safety nets that salaried employees enjoy, like Provident Fund (PF), Employees' State Insurance (ESI), or a pension.

That's exactly what PFRDA wants to change.

"Gig workers are a vital part of India's economy, and they deserve long-term financial security just like anyone else," says Rajesh Khandagale, Senior Vice President at NPS. "The e-Shramik model allows them to save for retirement while working independently."

So, What Exactly Is the NPS e-Shramik Model?

Think of it as the same National Pension System that government and corporate employees use - now open to delivery partners, drivers, freelancers, and other self-employed professionals.

PFRDA has tied up with platform aggregators like Zomato, Swiggy, Blinkit, Ola, Uber, and Urban Company to help their partners sign up for NPS. These platforms act as digital intermediaries, making it easy for workers to register and start saving directly from their phones.

How to Register: It's a Two-Step Process

Step 1: Quick PRAN Generation

When a gig worker signs up, their basic details - name, PAN, Aadhaar, mobile number, and bank account are verified digitally.

Once verified, a Permanent Retirement Account Number (PRAN) is created.

The worker can then choose their pension fund manager and investment plan (and change it later if needed).

Step 2: Add Full Details

Next, they'll be asked to fill in their nominee and family information within 60 days. This ensures that the pension benefits go to the right person if something happens to them.

If a platform already has KYC data for a worker, the process gets even faster.

How the Contributions Work

The new model is flexible because not every gig worker earns a fixed salary. There are three ways to contribute:

1. Jointly: Both the platform (like Zomato or Ola) and the worker pitch in.
2. Worker-only: The gig worker contributes on their own.
3. Platform-only: The company contributes for the worker.

PFRDA has made the system simple and affordable. The minimum contribution can be as low as Rs 99 per month, and the usual NPS minimum is Rs 500 per contribution.

In a welcome move, there are no registration or contribution fees, and annual charges have been reduced from Rs 100 to just Rs 15.

"Even small, regular investments can grow into a big corpus over time," Khandagale says. "That's the power of compounding."

Why This Matters

For millions of gig and freelance workers, this move is more than just a financial update, it's recognition. For years, this workforce has lived without job benefits or retirement safety nets.

Now, with the NPS e-Shramik model, delivery partners, cab drivers, and freelancers can finally build long-term savings with the same confidence as salaried employees.

MENAFN08112025007385015968ID1110314384