Until recently, gig workers were left out of retirement schemes like the National Pension System (NPS) or Provident Fund (PF), which were available only to salaried employees.
But now, that’s changing.
The Pension Fund Regulatory and Development Authority (PFRDA) has launched the NPS e-Shramik Platform Service Partner model, a new system that allows gig workers to enroll in the National Pension System just like regular employees.
This means delivery partners, drivers, and service providers can now start saving for their retirement and financial security, ensuring they have a stable future even after their working years.
How Gig Workers Can Register
Joining the NPS e-Shramik model is quick and simple.
The process happens in two easy steps:
Step 1 – PRAN Creation:
Gig workers provide their basic details — such as name, PAN, Aadhaar, mobile number, and bank information — for verification.
Once confirmed, a Permanent Retirement Account Number (PRAN) is created.
The worker or platform can then choose an investment plan, which can be changed later.
Step 2 – Completing Profile Details:
The worker adds other details like parent names, email ID, and nominee information.
Nominee details must be filled within 60 days of joining the scheme.
Contribution Options and Benefits
The contribution system under the NPS e-Shramik model is flexible.
There are three ways money can be added to the pension account:
Joint Contribution: Both the company and the worker contribute.
Worker-Only Contribution: Only the gig worker contributes.
Company-Only Contribution: The platform pays on behalf of the worker.
Platforms may set a minimum contribution, like Rs 99 per month, but overall, the standard minimum remains Rs 500 as per NPS rules.
There are no registration or contribution fees, and the annual maintenance charge has been reduced from Rs 100 to just Rs 15.
Regular contributions will help gig workers grow their savings over time through compounding returns — ensuring financial stability in the long run.
A Step Toward Financial Inclusion
The NPS e-Shramik initiative is a major step in giving gig workers the same financial security as salaried employees.
With this new model, India’s growing gig workforce can now plan for their retirement while enjoying the flexibility of independent work.
It’s a powerful example of how technology and policy can come together to build a more inclusive and secure future for every worker.
