New Delhi: Urban Company Ltd on Wednesday announced a collaboration with HDFC Pension Fund Management to provide structured retirement planning under the National Pension System (NPS) to over 50,000 service professionals on its platform.
Under the partnership, Urban Company’s service professionals can voluntarily enrol in the NPS Platform Workers’ Model, a retirement savings scheme regulated by the Pension Fund Regulatory and Development Authority (PFRDA). The initiative aims to widen access to formal pension coverage for gig and platform workers, a segment that has traditionally remained outside organised retirement systems.
HDFC Pension, India’s largest corporate NPS point of presence, will manage pension contributions and provide a fully digital onboarding and account management experience, while Urban Company will facilitate awareness and access across its service partner network. The model allows workers to make small, flexible contributions, building a retirement corpus that can be withdrawn as a lump sum and pension at retirement.
Abhiraj Singh Bhal, co-founder and chief executive of Urban Company, said the partnership builds on the company’s long-term focus on partner welfare, including insurance, skill development and income stability. Sriram Iyer, managing director and CEO of HDFC Pension, said the collaboration is aimed at making pension solutions simple, portable and digitally enabled for platform workers.
India’s platform workforce is estimated to reach 23.5 million by 2030, highlighting the growing need for social security frameworks tailored to gig workers. HDFC Pension said it has already onboarded close to one lakh gig workers under the NPS platform workers’ model through multiple partnerships.
Urban Company said the initiative aligns with its broader efforts to create a more sustainable and inclusive gig economy ecosystem, while supporting the government’s push to expand pension coverage.