The Coronavirus Job Retention Scheme (CJRS), announced on 20 March 2020 opened for claims on 20 April.

The scheme has now been extended for the second time. Originally due to end on 31 May, then 30 June, the Chancellor announced on 12 May that it will remain in place and available to all sectors through to the end of October 2020. The rules of the scheme will continue unchanged until the end of July 2020, but from August there will be greater flexibility, with furloughed employees being allowed to work for their employer part-time. Employers will also be asked to ‘start sharing the cost’ of the scheme. Full details are due to be made available by the end of May.

In this briefing, we examine the impact of the CJRS on pension contributions, auto-enrolment, salary sacrifice arrangements and other salary-related benefits in our latest briefing which examines these elements of the scheme. We will update this briefing as and when further material developments occur.

This briefing should be read alongside separate briefings produced by our employment team, which examine:

Please do get in touch with your usual contact if you would like to discuss any of these issues further.

Latest news

For more information on the latest pensions and employment developments in relation to the CJRS and COVID-19 more generally, check out our employment blog and recent posts on our UK pensions blog.

 

Rachel Pinto
Rachel Pinto
Partner, Pensions, London
+44 20 7466 2638
Marcus Fink
Marcus Fink
Consultant, Pensions, London
+44 20 7466 2562
Tim Smith
Tim Smith
Professional Support Lawyer, London
+44 20 7466 2542

 

 

 

 

 

 

 


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Recent COVID-19 posts

COVID-19: Pressure points: Pensions Regulator outlines approach to enforcement and reporting (UK)

COVID-19 Pressure points: Key actions checklists for trustees and sponsors of DB schemes (UK)

COVID-19 Pressure points: Regulator gives green light for trustees to suspend transfer values and updates guidance on deferring employer pension contributions (UK)

COVID-19 Pressure points: Pensions Regulator and PPF issue guidance for trustees of DB schemes with distressed sponsors (UK)

COVID-19 Pressure points: Immediate actions for pension scheme sponsors and trustees (UK)