PFRDA to onboard gig and platform workers to NPS instantly
Big update for gig and platform workers: PFRDA is making it easier to join the National Pension System (NPS).
Using e-shram database data, you'll soon be able to open an NPS account instantly through UPI-linked apps: no paperwork needed.
The goal? To help more gig and platform workers start saving for their future, even if their incomes aren't steady.
e-shramik accounts offer PRAN and flexibility
With the e-shramik model launched last year, you can make flexible, even tiny contributions, whether you're switching jobs or juggling gigs.
Each account comes with a Permanent Retirement Account Number (PRAN) and starts with a safe investment plan that you can change later.
As PFRDA Chairman S Raman puts it, "By default, these new accounts will follow the investment pattern of NPS Sanchaya. Afterwards, if the subscriber is interested to change their investment allocations, they will have the option to do so. This will allow them steady returns and build their savings over time," said Raman.