Zomato partners with HDFC Pension to introduce pension system for delivery partners

Deepinder Goyal-led Zomato has partnered with HDFC Pension, has partnered with HDFC Pension to launch the “NPS Platform Workers Model” for its delivery partners.

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The initiative, enabled by Kfintech as the Central Recordkeeping Agency, was formally unveiled Monday by Finance Minister Nirmala Sitharaman at an event organized by the Pension Fund Regulatory and Development Authority (PFRDA) to mark NPS Diwas.

The program aims to secure the financial future of gig workers by providing them access to the National Pension System (NPS), offering long-term financial security through lump sum payouts and monthly pensions upon retirement. Delivery partners will also benefit from features such as small, regular contributions, portability of benefits, and streamlined onboarding through eKYC.

According to NITI Aayog, the number of platform workers in India is projected to reach 23.5 million by FY2030, but retirement savings remain negligible among this segment.

Zomato said more than 30,000 of its delivery partners have already generated Permanent Retirement Account Numbers (PRANs) within 72 hours of the integration, and it plans to extend NPS coverage to more than 100,000 partners by 2025.

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 ‘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.”