India's pension fund regulator has recommended the federal government introduce a UK-like pension scheme for the country's gig workers, a move aimed at bringing about 90% of the overall workforce into the pension fold, its chairman told Reuters.
The Pension Fund Regulatory and Development Authority , which manages over $102 billion in assets, has proposed that workers at food and cab aggregators be automatically enrolled into the National Pension Scheme , Chairman Supratim Bandyopadhyay said in an interview on Tuesday.
India's informal or unorganised sector employs about 90% of the country's workforce, depriving them of social security benefits. Currently, Indian law mandates only firms with more than 20 workers need to enrol in the Employee Provident Fund scheme, which requires contributions from both the employer and employees.
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