Uber will start rolling out its pension plan to all eligible drivers in the UK through an auto-enrolment scheme provided by NOW: Pensions.
Managed by workplace solutions provider Adecco, the pension pot will see contributions from Uber worth 3% of a driver’s earnings.
Drivers will be able to choose to contribute a minimum of 5% of qualifying earnings. Eligible drivers will also be able to opt-out of the pension scheme, if they choose to.
The scheme will only cover Uber drivers, despite the fact that many also work with taxi operators such as Bolt, Addison Lee and Ola.
Uber is therefore extending an invitation to work with all operators to create a cross-industry pension scheme, it announced.
This could be designed to allow drivers to save for their futures whilst working across multiple operators, so they can benefit no matter which one they choose to drive with, it added.
Jamie Heywood, regional general manager for northern and eastern Europe at Uber, said: “We want to ensure that all eligible drivers can benefit no matter who they earn with, so today I am extending an invitation to work with operators such as Bolt, Addison Lee and Ola to create a cross-industry pension scheme.”
He added: “The new worker rights provided to drivers who use the Uber app are and save for their futures.”
Patrick Luthi, chief executive officer of NOW: Pensions, said: “This is a landmark step forward for this sector and we pledge our support to develop a cross-industry pension scheme. Furthermore, we want to help other industries provide their flexible workers with access to pensions as part of our mission to create a fair pension system for all.”
The launch of the new pension scheme follows the decision in March 2021 to treat all 70,000 UK drivers as workers, with the introduction of a minimum earnings guarantee and holiday pay.
Earlier this year Uber also worked with GMB Union pledging to work together to raise the standards of work across the industry by calling on all operators to follow the law and treat their drivers as workers.