Flexible furlough – the Pension Regulator updates to guidance

Coronavirus Job Retention Scheme, For the employee, For the employer, Furlough, Pension 1 Minute

The Pension Regulator (TPR) has updated its COVID-19 guidance as a result of flexible furlough commencing from 1st July 2020.

This new guidance recognises that:

  • from 1st July 2020, staff on furlough under the Coronavirus Job Retention Scheme may work part of the time for their employer
  • for claims starting on or after 1st August 2020, employers will no longer be able to claim a grant for up to the statutory minimum automatic enrolment (AE) employer contribution
Automatic Enrolment and DC pension contributions:
COVID-19 guidance for employers

The salary sacrifice section includes reference to where the member of staff is working for part of the furlough period (from 1st July 2020)

DC pension contributions:
COVID-19 technical guidance for large employers

And updates to make sure the guidance is consistent with updated guidance for trustees.

DB scheme funding:
COVID-19 guidance for employers

Rewrite to consolidate previously published guidance, provide an update of the TPR view of the impact of COVID-19, explain how the TPR will continue to adapt the regulatory approach and to provide guidance for trustees dealing with difficult decisions.

DB scheme funding and investment:
COVID-19 guidance for trustees

PAYadvice.UK 16/6/2020

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