# Uber to roll out pension plans for UK drivers
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2021-09-24
Category: BUSINESS
Category URL: https://financedigest.com/category/business
Meta Title: Uber Rolls Out Pension Plan for UK Drivers
Meta Description: Uber extends pension plan to UK drivers with contributions of 3% from earnings, providing long-term financial security. GMB union negotiates for workers'
URL: https://financedigest.com/uber-to-roll-out-pension-plans-for-uk-drivershtml

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(Reuters) – Uber Technologies said it would start rolling out its pension plan to all eligible drivers in the United Kingdom, months after the ride-hailing service granted workers’ rights to its drivers in the country.

In March, Uber had reclassified its more than 70,000 drivers in Britain as workers following a Supreme Court ruling. Uber had also said it would offer guaranteed entitlements, including holiday pay, a pension plan and limited minimum wage.

On Friday, the Silicon Valley company said it would contribute 3% of a driver’s earnings into a [pension plan](https://www.financedigest.com/are-the-over-55s-accessing-their-pensions-early-failing-to-plan-for-later-life.html "Are the over-55s accessing their pensions early failing to plan for later life?"), while drivers can choose to contribute a minimum of 5% of their qualifying earnings.

Britain’s GMB [union represents Uber’s drivers](https://www.financedigest.com/french-uber-drivers-to-earn-more-than-8-per-ride-after-union-deal.html "French Uber drivers to earn more than  per ride after union deal") in the country, and has the right to negotiate on behalf of the workforce.

Uber and GMB also urged other ride-hailing companies like Ola, Bolt and Addison Lee to offer similar [benefits to their drivers](https://www.financedigest.com/99-financial-firms-expect-benefit-open-banking-improved-customer-onboarding-main-driver-adoption.html "99% of financial firms expect to benefit from Open Banking, with improved customer onboarding the main driver of adoption").

I am extending an invitation to work with operators such as Bolt, Addison Lee and Ola to create a cross-industry [pension scheme](https://www.financedigest.com/how-britains-pension-scheme-hedge-became-a-trillion-pound-gamble.html "How Britain’s pension scheme hedge became a trillion pound gamble"). This will enable all drivers to save for their [futures whilst working](https://www.financedigest.com/meetings-in-the-metaverse-how-likely-is-this-the-future-of-work.html "Meetings in the metaverse – how likely is this the future of work?") across multiple platforms,” said Jamie Heywood, an executive for Uber’s northern and eastern European region.

Uber’s drivers will be auto-enrolled in a [pension scheme](https://www.financedigest.com/pension-schemes-act-2021-power-to-thepensions-regulator.html "Pension Schemes Act 2021: power to the…Pensions Regulator") provided by NOW: Pensions and managed by workplace solutions provider Adecco, the company added.

(Reporting by Carolyn Cohn in London and Sabahatjahan Contractor, Shubham Kalia in Bengaluru; Editing by Anil D’Silva)


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