Zomato and HDFC Pension Launch Retirement Benefits for Delivery Partners

Zomato, in collaboration with HDFC Pension, has launched the 'NPS Platform Workers Model' to provide retirement benefits for its delivery partners. Over 30,000 partners have registered for Permanent Retirement Account Numbers within 72 hours, with plans to enable over 1 lakh by 2025.

Zomato has partnered with HDFC Pension to unveil the 'NPS Platform Workers Model', offering formal retirement benefits to its delivery partners. The initiative was launched by Finance Minister Nirmala Sitharaman at a PFRDA event on October 1.

Within 72 hours of rollout, more than 30,000 Zomato delivery partners received their Permanent Retirement Account Numbers (PRANs). Zomato aims to enroll over 1 lakh partners by 2025 to help secure their financial futures.

As per a NITI Aayog report, India's platform workforce will expand to 23.5 million by 2029-30. The model addresses the current lack of retirement savings among gig workers, offering financial security and portability in benefits as workers progress in their careers.

(With inputs from agencies.)