Uber Technologies Inc (NYSE:UBER) Opens Up About Offering Gig Economy Workers Workplace Pensions

It was sometime back that UK’s Supreme Court considered a case brought before it by 35 Uber Technologies Inc (NYSE:UBER) drivers. The fate of thousands of gig economy workers lay in the hands of the court’s ruling, and that it was a much-awaited ruling.

The C court’s ruling favored the drivers who launched complaints about wanting to be treated like the rest of the workers. The gig economy is set for change, considering the ruling that struck most people as a win for the gig economy workers. It is a new dawn that will have the gig economy workers obtain workplace pension after Uber declared its decision recently. The ride-sharing app has concluded that it is essential to serve its workers with a company retirement plan.

Uber turns a listening ear to worker’s pleas

Most of the Uber drivers have complained about the company controlling how they go about their business operations. According to the frustrated drivers, the company dictates fares and even allocates customers.

Uber seems to have heard the drivers’ cry and has decided to classify about 70 00 of them as workers. The company’s decision implies that the drivers will be entitled to some wide-ranging benefits for the first time in its history. For example, they will become a part of the workplace pension scheme. The other benefits include sick leave and holiday leave.

The past few years have witnessed the gig economy expand a great deal, and something market experts closely attribute to the introduction of platform-based apps.

Smith’s perspective

The head of pensions with Aegon Kate Smith is impressed about the latest changes sweeping across and praised Uber for becoming the pioneer to the shift. The official outlined that Uber had done an excellent job offering flexible working opportunities. However, the official was rather critical about how the company went about offering relatively minimal benefits.

Most of the Uber drivers see the new movie as a great relief, outlining that it offers them longer-term financial security. Asides from the security attribute, the drivers also praised the change that would have them obtain a base level income upon retirement for those that will stay with the company longer.

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