The Chancellor, Rishi Sunak announced in his Summer Statement that a ‘job retention bonus’ of £1,000 per worker will be paid to UK employers for each furloughed employee who remains continuously employed to the end of January 2021.
Employees must earn above £520 a month (the lower earnings limit for national insurance contributions) on average between the end of the Coronavirus Job Retention Scheme and the end of January 2021. Payments will be made from February 2021 and further detail on the scheme will be announced by the end of this month.
The scheme could cost up to £9.4 bn if all of the 9 million people currently on furlough through the coronavirus job retention scheme (CJRS) were re-employed before January.
The CJRS will end in October as planned.