Today the Chancellor announced the introduction of the Job Retention Bonus.
This is a one-off payment of £1,000 to employers that have used the Coronavirus Job Retention Scheme (CJRS) for each furloughed employee who remains continuously employed until 31 January 2021. The bonus will provide additional support to retain employees.
To be eligible, employees will need to:
- earn at least £520 per month (above the Lower Earnings Limit) on average for November, December and January.
- have been furloughed by you at any point and legitimately claimed for under the Coronavirus Job Retention Scheme.
- have been continuously employed by you up until at least 31 January 2021.
If you are an employer and create new jobs and employ a Kickstarter (Age 16-24), the government will pay six months’ salary (25 hours @ minimum wage).
If you are an employer and employ apprentices, the government will pay £2,000 (for under 25s) and £1500 (for over 25s).
If you are an employer and employ trainees, the government will pay £1,000 (for under 25s) and £1500 (for over 25s).
Categories: Coronavirus Scheme, Job Retention Bonus, Job Retention Scheme