The taxi service Uber is helping its drivers save for their retirement.
Uber is helping drivers to save for their retirement, despite not considering them as employees. The company is partnering with a customer investment service, Betterment and making its services available to drivers.
According to Fortune, Betterment charges customers annual fees relating to employee salaries and invests those using algorithms. Aimed at employers, the service provides them with a manageable plan and this is the first time the company is directly integrating with a consumer-facing service.
Uber will be paying the fees for the first year and drivers can access the service via the app without paying any charges. As a result, it will help employees save for their future and retirement.
John Stein, CEO, Betterment explained that Uber will be paying the first year and the company has “committed some resources.”
However, Uber are still under a lawsuit for classifying drivers as independent contractors and not employees. They were also criticised for pay cuts in America and Canada. When asked to comment, Stein said: “I’m not sure how they could be criticized for making an effort to help drivers save.”
Other perks offered by Uber include being paid instantly and gas discounts.
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