Urban Company has signed a collaboration with HDFC Pension Fund Management to introduce the ‘National Pension System (NPS) Platform Workers Model’ for over 50,000 service partners on the Urban Company platform.
This is aimed at enabling Urban Company’s service professionals to voluntarily enrol in the NPS, a retirement savings scheme regulated by the Pension Fund Regulatory and Development Authority (PFRDA).
Through this partnership, service professionals will expect to gain simplified and seamless access to structured retirement planning. HDFC Pension has pioneered the NPS Platform Workers’ space by becoming the first NPS PoP to partner with digital platform aggregators to help secure the retirement of gig workers.
This collaboration with Urban Company will further enable their service professionals to access structured retirement planning with ease. Both Urban Company and HDFC Pension are aligned with the vision of providing long-term financial security to Indians across diverse sections of society.
Through this partnership, service professionals can choose their contribution amount, and through even small, regular contributions, they can build a retirement corpus for themselves.
Benefits could be in the form of a lump sum or payouts at a fixed frequency, such as every month. The HDFC Pension NPS platform also offers significant flexibility, including portability across platforms. Additionally, the digital integration between both partners enables smooth KYC processes and easy onboarding.
As part of the affiliation, HDFC Pension will manage pension contributions, providing a seamless digital experience for onboarding, account management and long-term retirement planning, while Urban Company will facilitate awareness and access to the program across its platform service partner network.
Commenting on the development, Abhiraj Singh Bhal, Co-founder and CEO, Urban Company, said, “Our partnership with HDFC Pension marks a meaningful step towards institutionalising retirement planning for our service professionals. This builds on our long-standing investments in partner welfare: spanning skill development, insurance, access to credit and income stability, and reinforces our commitment to a more sustainable and inclusive ecosystem.”
