Business EconomyPosted at: Oct 3 2025 2:13PM


PFRDA jointly launches National Pension System for Goa’s Driver Community to boost social security

New Delhi, Oct 3 (UNI) Pension Fund Regulatory and Development Authority (PFRDA) jointly launched National Pension System (NPS) for Goa’s driver community with GoaMiles and HDFC Pension Fund (PoP), an official statement said today.
This special initiative is aimed at strengthening social security for the informal workforce.
Launching the initiative, Goa Transport Minister Mauvin Godinho said, “The drivers of Goa are not just service providers—they are the brand ambassadors of our state, representing Goa’s hospitality, culture, and values to every visitor. Goa, though India’s smallest state, has consistently led by example, and this initiative is yet another testament to our commitment to inclusive growth. It aligns perfectly with the vision of Viksit Bharat 2047, and I am confident that Goa will continue to be at the forefront of progressive and people-centric reforms.”
This initiative will provide nearly 5,000 drivers operating on the GoaMiles platform with access to structured retirement planning.
“Let’s grow rich before we grow old. The power of compounding is real—and when tapped into early, even modest savings can grow into a substantial and dignified retirement corpus. NPS is built on this very principle: to provide every Indian with a structured, long-term, and inclusive savings solution,” said S Ramann, chairman of PFRDA.
At the event, 50 Permanent Retirement Account Numbers (PRANs) were distributed to drivers, symbolizing the rollout of the scheme. GoaMiles will contribute to each of the NPS accounts of the mobility partners.
Moreover, Ram Iyer, CEO (HDFC PFM) said, “We are pleased to partner with Goa Miles to secure the future for their ‘Kaptaans’. Retirement planning is essential for all individuals. Having access to financial instruments that are flexible and customer-friendly is equally important. We believe this is an opportunity for us to give back to society by ensuring more Indians are financially secure in their old age.”
The initiative reinforces PFRDA’s mission of making “Every Profession, One Pension” a reality and spreading the message that “NPS Zaruri Hai”
Welcoming the initiative, Utkarsh Dabhade, CEO of GoaMiles, said, “Extending NPS ensures drivers’ long-term financial dignity while enhancing their role as ambassadors of Goa’s hospitality. Also, Goa Miles will contribute under the NPS account of all the 5000 mobility partners or “Kaptaans”
PFRDA is a regulatory body established by the Government of India to promote old age income security by regulating and developing pension funds.
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