National Pension System now accessible to gig economy via Rs 99 entry

Gig workers affiliated with platforms such as Zomato, Swiggy, Blinkit and Urban Company have been given a new retirement option. According to a statement posted by the Pension Fund Regulatory and Development Authority (PFRDA) on X, the National Pension System (NPS) now allows participants to start contributing with as little as Rs 99. The framework is deliberately flexible: there is no set minimum or maximum deposit, and contributions can be made by the worker, the platform, or a combination of both after mutual consent. The enrolment procedure requires basic KYC information – name, residential address, PAN, mobile number and bank account – which can be validated through Aadhaar e‑KYC or any PFRDA‑approved method. Once the worker consents, a Permanent Retirement Account Number (PRAN) is issued, and the worker can select a pension fund and investment scheme, with the right to modify these choices later.