BLOG / Job Retention Bonus Announced
In his Summer Statement, the Chancellor has announced a job retention bonus for employers, of £1,000 per furloughed employee who returns to work and remains in work until at least 31 January 2021.
The qualifying criteria are:
a. The employee must have been furloughed for at least some period during the Job Retention Scheme period.
b. The employee must be paid at least £520 per month between 1 November 2020 and 31 January 2021.
c. The employee must remain in work until at least 31 January 2021.
The bonus will be paid to employers in February 2021.
Further details of the bonus scheme will be published later in July.