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
The salary sacrifice section includes reference to where the member of staff is working for part of the furlough period (from 1st July 2020)
And updates to make sure the guidance is consistent with updated guidance for trustees.
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.