NPS: The Narendra Modi administration is set to implement a significant update to the National Pension System (NPS). The Pension Fund Regulatory and Development Authority (PFRDA), a central government body, has introduced a scheme that allows investments to start with just Rs 99. There are no set minimum or maximum contribution limits, enabling employees to contribute whenever they wish, based on their earnings and convenience.
Who is this scheme intended for?
This initiative is designed for platform workers linked to companies such as Zomato, Swiggy, Blinkit, Ola, Uber, and Urban. According to the regulator, employees can contribute to this scheme based on their financial capacity, and even small contributions can help them begin saving for retirement.
Starting with just Rs 99
Contributions to this scheme can commence at a mere Rs 99. There are three options for contributions. The first option allows both the platform and the employee to contribute to the NPS account. The second option permits the employee to make the entire contribution independently. The third option enables the platform or aggregator to contribute on behalf of the employee. There are no fixed minimum or maximum contribution limits.
Your work may depend on your next booking, but your retirement shouldn’t.
With NPS for Platform Workers, you can start with just ₹99 and contribute at your own pace with no minimum and no maximum contribution limit.
Build your retirement corpus today, one contribution at a… pic.twitter.com/GzyQln8MQ3
“>August 12, 2026
However, the platform and the employee can mutually decide on a minimum contribution amount for each deposit. This flexibility means that workers are not required to commit to a large fixed sum each month and can gradually increase their retirement savings based on the contribution arrangements provided by the platform.
What will the investment process look like?
To set up an account, the gig worker’s KYC must first be completed. The KYC details—such as name, address, PAN, mobile number, and bank account information—are collected. KYC can be finalized through Aadhaar-based e-KYC or any other method sanctioned by the PFRDA. Once the worker’s consent is obtained, a Permanent Retirement Account Number (PRAN) will be issued. Initially, the platform allows the worker to select an investment scheme and pension fund, but these options can be modified after onboarding.
What will happen in the second phase?
Additional information will then be collected in the second phase. This includes the parents’ names, email IDs, and nominee details. Nominee details must be entered within 60 days of onboarding. If an employee works for multiple platforms, their NPS account will initially be opened through one aggregator. However, the account can later be ported or transferred to another platform.