Gig Workers Can Start Investing in NPS with Just ₹99 for Retirement Fund

New Delhi, August 12: Good news for gig workers associated with e-commerce platforms like Zomato, Swiggy, Blinkit, and Urban Company. They can now start building a retirement fund through the National Pension System (NPS) with a minimal contribution of just ₹99. This announcement was made by the Pension Fund Regulatory and Development Authority (PFRDA) on Wednesday.

The PFRDA, which manages the NPS, shared details about the flexibility of the NPS framework for platform workers in a post on the social media platform ‘X’. The regulator stated that workers can initiate contributions starting at ₹99 and continue investing at their own pace, as there are no minimum or maximum limits on contributions.

The post further emphasized that while a worker’s job may depend on their next booking, their retirement should not. It highlighted that platform workers can begin their NPS journey with just ₹99, with no set limits on contributions.

The NPS e-Shramik (Platform Service Partner) model was introduced by the PFRDA through a circular on October 29, 2025, to include gig and platform workers within the NPS framework. This model is designed for individuals providing services to users via digital platforms under service contracts.

Under this framework, contributions can be made jointly by the platform and the worker, solely by the worker, or entirely by the platform or aggregator on behalf of the worker. Although the PFRDA has not established any minimum or maximum contribution limits, workers and platforms can mutually agree on a minimum amount for each contribution.

This model is largely similar to the corporate NPS model but is specifically tailored for platform workers. Importantly, platform aggregators do not need to register separately with the PFRDA. Instead, Points of Presence (POPs), which facilitate the opening of NPS accounts and related services, can collaborate with aggregators to enroll their workers.

The onboarding process is completed in two stages. In the first stage, the worker’s KYC information—such as name, address, PAN, mobile number, and bank account details—is collected. KYC can be completed through Aadhaar-based e-KYC or any other method approved by the PFRDA.

Upon receiving the worker’s consent, a Permanent Retirement Account Number (PRAN) is generated. In the initial phase, the platform can select the investment scheme and pension fund for the worker. However, once the account is opened, the worker has the right to change these options.