Job Retention Bonus

Yesterday the Chancellor announced the introduction of the Job Retention Bonus, which will pay a one-off bonus of £1000 per employee to an employer who continuously employs that employee until 31 January 2021.

To be eligible, the employee will need to:

• earn at least £520 per month on average for November, December and January.
• have previously been furloughed by the employer under the Coronavirus Job Retention Scheme
• have been continuously employed by the employer until at least 31 January 2021.

The Government says more information will be available on the scheme from 31 July 2020.