The Job Retention Bonus, worth up to £9 billion is set to support millions of employers who have kept on furloughed workers. The bonus will work alongside newly announced Job Support Scheme and could be worth more than 60% of average wages of workers who have been furloughed – and are kept on until the start of February 2021.
The £1,000 Job Retention Bonus is equal to a 20% wage subsidy for the employment costs of the average person previously furloughed, but for those on lower incomes, it is 40% of wage costs over the three-month period to the end of January 2021.
