Pensionbazaar, Ubuntu Consortium sign MoU to expand NPS access among women workers

Pensionbazaar, a brand under Paisabazaar, and Ubuntu Consortium have signed a memorandum of understanding (MoU) to expand access to the National Pension System (NPS) among women workers.

The MoU was signed in Bengaluru in the presence of Karnataka Chief Minister D.K. Shivakumar, K. Ratna Prabha, IAS (Retd), Founder President, Ubuntu Consortium, and Sarbvir Singh, Joint Group CEO, PB Fintech.

The partnership aims to empower women entrepreneurs to introduce NPS among women employed in their enterprises and encourage disciplined, long-term savings. By taking retirement planning closer to the workplace, the initiative seeks to improve financial resilience among women working in small and medium enterprises and strengthen their participation in India's formal retirement ecosystem.

The partnership was announced as part of Ubuntu Consortium's ‘Ubuntu – Together We Grow’ programme, which brought together policymakers, industry leaders, entrepreneurs and representatives of international organisations to discuss opportunities for women-led businesses and inclusive economic growth.

Shivakumar said empowering women was essential to building a stronger and more prosperous economy. He noted that women are increasingly participating in the workforce, building businesses, creating employment and contributing to livelihoods, adding that the benefits of women's economic empowerment extend to families, communities and the wider economy.

“Women have always been a source of creativity, resilience and strength, and I firmly believe that the youth and women of our country hold the greatest opportunity to shape India’s future,” Shivakumar said.

Sarbvir Singh said retirement planning often remains outside the immediate financial priorities of working women. Under the partnership, Pensionbazaar plans to recruit ‘Pension Sakhis’, who will help enrol more than 10,000 women into the NPS.

“Through this MoU, we are setting up a system to recruit Pension Sakhis, who will in turn recruit 10,000+ women and encourage them to invest in NPS,” Singh said.

He added that staying invested for longer periods could help women build a meaningful retirement corpus and improve financial security for themselves and their families.

K Ratna Prabha said economic participation becomes more meaningful when it also creates long-term financial security. “This partnership is an opportunity for women entrepreneurs to extend that security to the women who work with them and make retirement planning part of the workplace itself,” she said.

For many women, the workplace can be the first point at which retirement planning becomes a financial priority. The initiative seeks to take retirement planning and long-term financial security to the grassroots level by leveraging women entrepreneurs and their workplaces.