Urban Company partners HDFC Pension to promote retiremenet pension

MUMBAI: Urban Company has tied up with HDFC Pension Fund Management in Mumbai to roll out the National Pension System Platform Workers Model for over 50,000 service professionals on its platform, allowing voluntary enrolment into the PFRDA-regulated retirement scheme through a simplified, digitally integrated process to support old-age security.Participants can set contribution amounts and build a retirement corpus through small, regular payments. They can withdraw benefits as a lump sum or as fixed-interval payouts, including monthly payments. The platform offers portability across platforms, along with digital KYC and onboarding. Urban Company will drive awareness and access across its service partner network.Abhiraj Singh Bhal, co-founder and CEO of Urban Company, said, “This builds on our longstanding 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.”Sriram Iyer, managing director and CEO of HDFC Pension, said, “Gig and platform workers are an indispensable pillar of India’s evolving workforce. This is a strong need to provide them access to structured retirement solutions. Through the association with Urban Company, we are taking another productive step towards bridging this gap by making the National Pension System more accessible, simple and digitally enabled for platform workers. This initiative mirrors our commitment to expanding pension coverage and supporting long-term financial security for India’s growing gig economy.”India’s platform workforce is projected at 23.5 million by 2030, yet remains largely outside formal retirement planning due to limited awareness and access. HDFC Pension said it has on-boarded close to one lakh gig workers under the Platform Workers Model through multiple tie-ups, enabling small, periodic contributions with withdrawals as a lump sum and pension on retirement.Set up in 2011, HDFC Pension is licensed by PFRDA to manage pension corpus under the National Pension System and is a wholly owned subsidiary of HDFC Life.Urban Company runs a technology-driven platform linking customers with home and beauty service professionals. According to its FY26 Earnings Index, average monthly net earnings in hand for active service professionals stood at Rs 28,322, while the top 5% earned Rs 51,673. All active service professionals receive group life and accidental insurance, including life cover up to Rs 10 lakh and disability cover up to Rs 6 lakh.