Pensionbazaar, a brand under Paisabazaar, has partnered with Zypp Electric to offer National Pension System (NPS) enrolment to the latter's gig delivery partners. The partnership will provide eligible workers with access to retirement savings through a digital enrolment process.
Zypp Electric, an EV-as-a-service platform focused on last-mile delivery, operates a fleet of over 30,000 electric vehicles across eight cities. The company aims to encourage 60-70% of its eligible delivery partners to join the pension ecosystem within the first 6-12 months of the partnership.
Under the arrangement, delivery partners can complete NPS enrolment through a consent-based digital process. Account opening and activation will be subject to applicable eligibility and KYC requirements. Contributions can be made through UPI, net banking and cards, with workers able to determine the amounts and frequency of their payments based on their earnings.
The initiative is intended to address the limited access to formal retirement savings among gig workers, many of whom have irregular incomes and do not receive retirement benefits typically associated with salaried employment.
Akash Gupta, co-founder and CEO of Zypp Electric, said the partnership would enable delivery partners to begin building retirement savings through a structured pension scheme. The company plans to extend its platform and ecosystem to more than 25 lakh gig workers over the next two to three years.
Vishwajeet Goel, head of Pensionbazaar, said the digital enrolment process and flexible contribution options were intended to make formal retirement planning more accessible to workers with variable incomes.
Under the NPS framework, pension accounts are portable, allowing workers to continue their savings when moving between platforms. Contributions can be made by workers, platform aggregators or both. Investments are market-linked, with the eventual retirement corpus depending on contributions, investment performance and applicable withdrawal and exit rules.
Pensionbazaar plans to expand its NPS offering through partnerships with digital platforms, targeting gig workers and other segments of the workforce with limited access to formal retirement planning.