PFRDA jointly launches National Pension System for Goa's driver community with GoaMiles, HDFC pension fund

New Delhi [India], October 3 (ANI): In a special initiative aimed at strengthening social security for the informal workforce, PFRDA jointly launched National Pension System (NPS) for Goa's driver community with GoaMiles and HDFC Pension Fund (PoP), in the presence of the Transport Minister of Goa, Mauvin Godinho, said the Union Ministry of Finance.
The initiative was launched at a special event held at Panjim on 30th September 2025.
The initiative will provide nearly 5,000 drivers operating on the GoaMiles platform with access to structured retirement planning. At the event, 50 Permanent Retirement Account Numbers (PRANs) were distributed to drivers, symbolising the rollout of the scheme. GoaMiles will contribute to each of the NPS accounts of the mobility partners.
Launching the initiative, the Transport Minister of Goa, Mauvin Godinho, expressed his appreciation to PFRDA and Goa Miles for their efforts towards ensuring the financial security of Goa's driver community.
He stated that 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."
Speaking at the pilot launch, S Ramann, Chairman of the Pension Fund Regulatory and Development Authority (PFRDA), underscored the vital importance of starting early and maintaining financial discipline for a secure retirement.
Raman said, "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."
Ram Iyer CEO , HDFC PFM in his address stated that they were 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."
Utkarsh Dabhade, CEO, GoaMiles, welcomed the gathering and highlighted that GoaMiles has always sought to empower drivers with sustainable opportunities. He said that 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".
The event concluded with a Vote of Thanks by Sumit Kumar, Chief General Manager, PFRDA, who acknowledged the support of the Government of Goa, GoaMiles, HDFC Pension Fund, and the driver community for making the initiative possible. (ANI)