Zomato Teams Up with HDFC Pension to Launch Retirement Plan for Delivery Partners

Zomato, led by Deepinder Goyal, has teamed up with HDFC Pension to launch the "NPS Platform Workers Model" specifically for its delivery partners.

This initiative, managed by Kfintech as the Central Recordkeeping Agency, was officially launched on Monday by Finance Minister Nirmala Sitharaman. The event was organized by the Pension Fund Regulatory and Development Authority (PFRDA) to celebrate NPS Diwas.

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The program is designed to ensure the financial security of gig workers by giving them access to the National Pension System (NPS). It helps them build savings over time, which they can receive as a lump sum or as monthly pensions when they retire.

Delivery partners will also enjoy easy features like making small regular contributions, keeping their benefits even if they change jobs, and simple registration using eKYC for a hassle-free start.

NITI Aayog estimates that the number of platform workers in India will grow to 23.5 million by FY2030, but very few of them currently save for retirement.

Zomato stated that over 30,000 of its delivery partners have already received Permanent Retirement Account Numbers (PRANs) within 72 hours of the integration. The company aims to provide NPS coverage to more than 100,000 partners by 2025.

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Sriram Iyer, Managing Director & CEO, HDFC Pension, said, "We are delighted to bring this offering to gig workers, in collaboration with Zomato. Usually, most individuals start to appreciate the importance of retirement planning as they near retirement. Hence, we constantly endeavour to create awareness on this topic. However, not all individuals have access to formal retirement planning instruments." 

"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. I would like to thank PFRDA for their vision and support in launching this model. I would also like to thank Zomato for their advocacy and initiative in implementing this model for their delivery partners. We strongly believe this will go a long way towards making India's Future Sure'."

Aditya Mangla, CEO, 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. This is part of our larger commitment to building stability and dignity for those who power India's gig economy."

About Zomato

Zomato is an Indian tech company founded in 2008 that focuses on food delivery and restaurant services. It connects customers with restaurants by offering online food ordering, table bookings, and contactless dining. Zomato also helps people discover restaurants through reviews and ratings, while supporting restaurant partners with advertising and ingredient procurement solutions.

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