Urban Company Partners with HDFC Pension to Bring NPS Cover to 50,000+ Gig Workers

Urban Company has partnered with HDFC Pension Fund Management Ltd to provide retirement planning support to more than 50,000 service professionals working on its platform. The initiative introduces the National Pension System (NPS) Platform Workers’ Model, aimed at improving financial security for gig workers.

What the Partnership Offers

Under this collaboration, Urban Company’s service professionals can voluntarily enrol in the National Pension System (NPS), a government-regulated retirement savings scheme overseen by the Pension Fund Regulatory and Development Authority (PFRDA).

The programme allows workers to start retirement savings easily through small and regular contributions, helping them build a long-term pension corpus.

Flexible and Digital Retirement Planning

Service professionals can choose how much they want to contribute and decide how they receive benefits in the future, either as a lump sum or regular monthly payouts after retirement.

The NPS platform also offers key features such as:

• Easy digital onboarding and KYC
• Portability across platforms
• Simple account management
• Flexibility in contribution amounts

HDFC Pension will manage the pension accounts, while Urban Company will help spread awareness and provide access to the scheme across its service partner network.

Supporting India’s Growing Gig Workforce

HDFC Pension has been a pioneer in the NPS Platform Workers’ space and was the first NPS Point of Presence (PoP) to work with digital platforms for gig worker retirement planning. With this partnership, the company aims to extend structured pension access to more workers in the informal sector.

India’s platform workforce is expected to grow to 23.5 million by 2030, but many workers still lack formal retirement options. HDFC Pension has already onboarded nearly one lakh gig workers through similar partnerships.

Leadership Views on the Initiative

Urban Company’s Co-founder and CEO said the partnership strengthens the company’s long-term focus on service partner welfare, which already includes skill training, insurance, credit access, and income stability.

HDFC Pension’s Managing Director and CEO highlighted that gig workers are a vital part of India’s workforce and need simple, accessible retirement solutions to ensure financial independence in old age.

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About the Companies

HDFC Pension, established in 2011, is a licensed pension fund and Point of Presence under PFRDA. It manages NPS investments and focuses on delivering stable, risk-adjusted returns.

Urban Company is a technology-led platform offering home and beauty services. Its service professionals are covered under group life and accident insurance, with monthly earnings averaging over ₹28,000.

Urban Company Share Price Movement

Urban Company share price (NSE: URBANCO) was trading at ₹122.66 on January 28 at 3:15 pm IST, up ₹0.17 (0.14%) for the day. The stock opened at ₹123.04 and moved between a day’s high of ₹125.50 and a low of ₹120.11. The stock’s 52-week high stands at ₹201.18, while the 52-week low is ₹116.58. Urban Company has not announced any dividend, and there is no quarterly dividend payout.

Conclusion

The partnership between Urban Company and HDFC Pension marks an important step toward formalising retirement planning for gig workers. By making NPS access simple and digital, the initiative helps platform workers build long-term financial security and prepares them for a stable future beyond active work.

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