The Job Support Scheme, which was due to start on 1st November 2020, has been postponed as the Coronavirus Job Retention Scheme is being extended until 31st March 2021.
About The Job Support Scheme (Currently Postponed)
Chancellor Rishi Sunak has revealed details of a Jobs Support Scheme that will replace The Furlough Scheme when it closes.
The Job Support Scheme is designed to protect viable jobs in businesses who are facing lower demand over the winter months due to Covid-19, to help keep their employees attached to the workforce. The scheme will open on 1 November 2020 and run for 6 months.
The company will continue to pay its employee for time worked, but the cost of hours not worked will be split between the employer, the Government (through wage support) and the employee (through a wage reduction), and the employee will keep their job.
The Government will pay a third of hours not worked up to a cap, with the employer also contributing a third. This will ensure employees earn a minimum of 77% of their normal wages, where the Government contribution has not been capped.
Employers using the Job Support Scheme will also be able to claim the Job Retention Bonus if they meet the eligibility criteria.
For details of the Furlough Scheme Please Click Here