In December 2022, India’s Pension Fund Regulatory and Development Authority (PFRDA) has recommended the federal government to introduce a pension scheme like UK pension scheme for the country's______________.

Correct option is C

The correct answer is (c) gig workers.
• In December 2022, India’s Pension Fund Regulatory and Development Authority (PFRDA) recommended the federal government introduce a pension scheme similar to the UK pension scheme for the country's gig workers.
• The recommendation aims to provide social security and retirement benefits to gig workers, who typically lack access to traditional employment benefits.
Facts to remember:
• Gig workers include individuals engaged in flexible, temporary, or freelance jobs, often facilitated by digital platforms such as Uber, Ola, Swiggy, and Zomato.
• According to a 2021 NITI Aayog report, India has approximately 15 million gig workers, a number expected to rise to 23.5 million by 2029-30.
• The UK pension scheme, known as the National Employment Savings Trust (NEST), automatically enrolls workers into pension plans, which could serve as a model for India's proposed scheme.
• Introducing a pension scheme for gig workers would help ensure their financial stability in retirement, addressing a significant gap in social security coverage in the gig economy.