The end of the furlough scheme is approaching; may you be eligible for over £600 in monthly assistance?
MILLIONS of British citizens who are still on furlough are being advised to see if they are eligible for up to £600 per month in other benefits when their furlough expires.
According to official estimates, over 1.9 million people are currently on furlough, but because the policy is set to end at the end of September, they may be eligible for alternative benefits worth up to £600 per month. Everything they need to know is right here.
Despite the fact that the bulk of firms have reopened once the lockdown restrictions were lifted, some employers continue to use furlough.
At the end of September, Chancellor Rishi Sunak aims to taper down support provided to UK residents during the peak of the COVID outbreak.
Unfortunately, further redundancies are likely as some firms may be unable to afford to keep all of their employees.
According to financial experts, now is a good time to start making plans and determining what people may be qualified for.
“Although furlough is not as commonly used as it was at the height of the pandemic, ending it still poses a risk of people being laid off or losing jobs that are no longer funded by the government,” said James Andrews, senior personal financial adviser at money.co.uk.
“If you are about to lose your furlough payments, you must act quickly to apply for any support schemes, loans, or grants that you may require to stay afloat.
It can take weeks for them to be approved, so act soon before the furlough payments end for good.
“Jobseekers Allowance (JSA) is a benefit for persons who are not in full-time employment (working fewer than 16 hours per week), are capable of working, and are looking for work,” says the author.
Most persons are eligible for JSA if they pay adequate national insurance contributions while working.
It is not means-tested, therefore your funds will not be affected.
The quickest and most convenient way to apply is to go to the government’s official website.
It’s a good idea to have your NI number, bank or building society account information, and prior six months’ worth of work information on available.
“JSA is capped at £59.20 per week for under 25s and £74.70 for over 25s,” Mr Andrews said.
“This is insufficient to replace a salary,” according to Brinkwire Summary News.