Robinhood launches a retirement plan for gig workers

Robinhood is rolling out a retirement savings plan for certain gig workers, targeting a growing cohort of people who may not have access to traditional 401(k) options.

The new program, called Robinhood Retirement for Independent Workers, will be available to people who find work through Taskrabbit, Grubhub, and Gopuff starting the first week of March.

“A growing number of people are moving away from the usual 9-5, shifting towards freelancing and side hustles to make a living. But traditional systems haven’t caught up,” Robinhood said in a release Wednesday.

While most gig workers treat the job as a side hustle, many are utilizing the platforms as their primary income source. It’s a struggle to save for the future without access to retirement plans that are generally reserved for full-time employees. Robinhood shared a statistic that found more than 50% of independent workers don’t believe they have “effective access to retirement and savings plans.”

Under the new offering, Gopuff, Grubhub, and Taskrabbit gig workers will earn a boosted match ranging from 1% to 3% for the first year. They’ll also have access to a dedicated phone hotline for financial questions through the nonprofit GreenPath Financial Wellness. Robinhood said it expects to add more partners, but didn’t provide additional details.

https://www.fastcompany.com/91040869/robinhood-retirement-plan-gig-workers?partner=rss&utm_source=rss&utm_medium=feed&utm_campaign=rss+fastcompany&utm_content=rss

Created 1y | Feb 28, 2024, 4:30:06 PM


Login to add comment

Other posts in this group

Apple just made it much easier to get a handle on your inbox. Here’s how

Keeping our inboxes organized often feels like an overwhelming task.

If you’r

Apr 5, 2025, 11:10:05 AM | Fast company - tech
‘The White Lotus’ star Aimee Lou Wood’s smile is inspiring to fans—and a dangerous TikTok trend

The breakout star of this season of The White Lotus? Aimee Lou Wood—and her distinctive real-life smile. “I mean, I can’t believe the impact my teeth are having,” the English actress told

Apr 5, 2025, 6:30:04 AM | Fast company - tech
Trump extends TikTok sale deadline again—this time by 75 days

President Donald Trump on Friday said is signing an executive order to

Apr 4, 2025, 9:20:02 PM | Fast company - tech
Nintendo delays Switch 2 preorders because of Trump’s tariffs

Nintendo is pushing back preorders for its upcoming Nintendo Switch 2 while it figures out the implications of President Donald Trump’s

Apr 4, 2025, 6:50:05 PM | Fast company - tech
$2,300 for an iPhone? Trump’s tariffs could make that a reality

Your favorite iPhone could soon become much pricier, thanks to tariffs.

Apr 4, 2025, 4:30:07 PM | Fast company - tech
My dog recognizes the sounds a Waymo car makes

Most of us know the general (albeit simplified) story: Russian physiologist Ivan Pavlov used a stimulus—like a metronome—around the dogs he was studying, and soon, the hounds would start to saliva

Apr 4, 2025, 4:30:07 PM | Fast company - tech
How I wrote the notes app of my dreams (no coding required)

For years, I’ve had a secret ambition tucked away somewhere near the back of my brain. It was to write a simple note-taking app—one that wouldn’t be overwhelmed with features and that would reflec

Apr 4, 2025, 2:20:04 PM | Fast company - tech