Pensions and Furlough: What You Need to Know

What is furlough, how does affect your pensions, and what happens when the rules change in August? We answer all your questions on the Coronavirus Job Retention Scheme

Grace Oliver 29 June, 2020 | 12:43AM

Frozen pound

Furlough has become one of those words that has entered our vocabulary despite nobody really knowing what it meant just a few months ago.

It’s estimated that a quarter of the UK’s workforce - roughly 9 million people - are currently on the leave of absence from work. For the past few months, employers have been able to claim back the portion of their workers’ pensionable salaries, but from August things are set to change again.

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Grace Oliver  Grace Oliver is a freelance financial journalist

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