Pension Program Terms and Conditions Addendum to General Platform Terms: Drivers

Effective from 1st of May 2024

You can download an offline version of these Terms for your records and future reference here ↗.

These Terms and Conditions ("Pension Terms") govern the eligibility, participation, and administration of the Program offered to you as a registered Private Hire Vehicle (PHV) driver on the Bolt Platform. For the avoidance of doubt the Pension Terms apply to you and not to licensed drivers who are associated with your account in accordance with the Private Hire Terms. By participating in this Program, you agree to these Pension Terms and acknowledge that you have read the Privacy Notice for Drivers.

1. Glossary:

The defined meanings set out in the General Platform Terms and the Private Hire Terms shall apply. If there is any inconsistency between those terms and the Pension Terms, the Pension Terms will apply.

“Bolt Contribution” has the meaning ascribed to it in section 4 of these Terms

“Driver Contribution” has the meaning ascribed to it in section 4 of these Terms

“Pension Provider” or ”Aviva” means Aviva Life & Pensions UK Limited, Wellington Row, York, YO90 1WR or such other pension scheme provider as Bolt UK may nominate for the purposes of these Pension Terms from time to time

“Program” means the pension scheme provided by Aviva or such other pension scheme to which Bolt UK may facilitate access for you from time to time.

“Pension Provider Terms” means the terms and conditions of the Pension Provider from time to time, currently Aviva’s Terms and Conditions published by Aviva on

https://workplace.aviva.co.uk/bolt-drivers/ ↗

“Relevant Fees” means fees, including Journey Fees, paid to you in respect of Journeys via the Bolt Platform, including any fees payable to you in relation to Journeys completed by other licensed drivers who are associated with your account in accordance with the Private Hire Terms.

"we", "our" or "us" means Bolt UK, according to when it is used

"you" means the party entering into these Terms with us.

2. Information about the Pension Provider

Bolt has partnered with Aviva to help you make the most of your savings. Through the Program you will be provided with access to a pension scheme to save for your retirement. A pension scheme enables you to build up a pot of money that can be used when you retire. It gives you a tax-efficient way to invest, and you could benefit from a regular contribution from Bolt.

You can learn more about the Program, the Pension Provider, the Pension Provider Terms, fees and charges and helpful information at https://workplace.aviva.co.uk/bolt-drivers/ ↗

3. Bolt's Role

Bolt will facilitate access for you to elect to enroll in the Program. This includes providing necessary information and support on how to opt in and accept the Pension Provider Terms. The Driver App for PHV drivers has been updated to include a Pension section. If you wish to opt-in to the Program, you should do so via the Driver App and completing the PHV driver application declaration. No other requests to opt-in, via Customer Support or emailing Bolt directly, will be accepted.

Subject to the Pension Terms, Bolt will also make a contribution to your pension. Bolt will not charge you any fee for its role in setting up or facilitating your access to or enrolment in and making contributions under the Program, which it regards as part of and ancillary to its broader role.

4. Pension Contributions

Upon successful enrolment in the Program, you will be entitled to have 8% of Relevant Fees contributed to your pension under the Program, on a monthly basis.

The contribution shall be comprised of:

  • a contribution by you of 5% of your Relevant Fees (referred to as the "Driver Contribution"). Bolt will apply the Driver Deduction ; and
  • an additional contribution by us of an amount equivalent to 3% of Relevant Fees (referred to as "Bolt Contribution").

For as long as you are participating in the Program, you authorize and direct us to send the Driver Contribution to the Pension Provider instead of to you and agree that payment to the Pension Provider shall discharge our obligation to pay you that part of your Relevant Fees. We will make payment of the Driver Contribution at the same time as we would have paid your Relevant Fees. Bolt shall make the Bolt Contribution into your pension under the Program at the same time as we make the Driver Contribution.

5. Eligibility

To be eligible for the pension contributions set out at section 4 above under this Program, you must:

  1. Be onboarded to the platform as a PHV Bolt driver (Service Provider).
  2. Comply with all relevant laws, regulations, and terms of service outlined by Bolt.
  3. Accept the Pension Provider Terms and complete the application process and declarations in the Driver App.

4. Enrolment:

Participation in the Program is entirely optional and operates on an opt-in basis. Nothing in the General Platform Terms and/or the Private Hire Terms require you to enter into these Pension Terms.

Your participation will only commence upon explicit opt-in and acceptance of the Pension Provider Terms, completion of the application process and declarations in the Driver App. You can obtain independent financial advice from an FCA regulated adviser about whether joining the Program is right for you.

5. Opt-Out and Opting back in:

If you opt into the Program you may revoke your participation at any time on one week’s notice. If you later decide to opt back into the Program after opting out or otherwise ceasing to have an registered PHV driver account on the Bolt Platform, you will be responsible for funding any subsequent opt-in fee by the Pension Provider as detailed in the Pension Provider Terms.

Each time you opt into a pension scheme under the Program the Pension Provider will set up a new pension scheme for these purposes, into which the relevant Driver Contributions and Bolt Contributions will be made. You may be able to then merge or consolidate pension schemes you hold with the Pension Provider subject always to the Pension Provider Terms. If you pause contributions for a period of time without formally opting out, your scheme will remain open.

You may only opt into the Program twice (including any initial opt-in) within any rolling 12 month period.

You have the right to opt-out within 30 days of opting in to the Program, and if you do so within this timeframe you will receive a full refund of Driver Contributions paid in accordance with the Pension Provider Terms. Any Bolt Contribution will be returned to Bolt by the Pension Provider.

6. Payment of Opt-In Fees

Bolt will cover your initial opt-in fee for when you first elect to enroll into the Program. Any subsequent opt-in fees following your decision to opt back into the Program and/or any re-enrolment into the Program will be at your expense in accordance with the Pension Provider Terms.

7. Suspension of the account

If you enroll in the Program, you have the option to temporarily suspend contributions into your pension scheme for up to 12 months, provided the suspension request is submitted via the Bolt Driver App. During any such suspended period, you will not be eligible for any contributions (i.e. Driver Contributions will not be paid from Relevant Fees into your pension account and no Bolt Contribution will be payable).

8. Termination of Participation:

Bolt reserves the right to terminate or modify the Program generally at any time (including changing the Pension Provider), with prior notice provided to affected drivers.

If you no longer wish to participate in the Program you may cease participation at any time on one week’s notice; however, you will only be entitled to a return of Driver Contributions if you opt out in accordance with section 5 above, and subject always to the Pension Provider Terms.