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Uber to roll out pension plans for UK drivers By Reuters

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© Reuters. FILEPHOTO: Uber’s logo is displayed on the roof in a taxi private hire in Liverpool, UK, April 15, 2019. REUTERS/Phil Noble

(Reuters) – Uber Technologies (NYSE:) 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.

Uber had classified its over 70,000 British drivers as workers in March following a Supreme Court order. Uber stated it also would provide guaranteed entitlements such as holiday pay, pension plans, and a minimum wage.

According to the Silicon Valley-based company, it will pay 3% of driver earnings into a retirement plan. However, drivers have the option of contributing a minimum of 5 percent of qualifying earnings.

The GMB union in Britain represents Uber’s drivers and can negotiate for the workers.

Uber and GMB also asked ride-hailing companies such as Ola, Bolt, and Addison Lee for similar benefits.

Bolt and Addison Lee are two of the companies I invite to join me in creating a cross industry pension plan. Jamie Heywood from Uber’s eastern and northern European regions stated that the scheme will help all drivers save money while they work across many platforms.

Uber’s drivers will be auto-enrolled in a pension scheme provided by NOW: Pensions and managed by workplace solutions provider Adecco (SIX:), the company added.

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