OPEN - ESDS

STANDING OP.DERS -
STATUTORY NATEP.N ITY -
PAY
STATUTORY SICK PAY -
(SSP)
STOCKS -
STRIKE PAY -
SUPPLEMENTARY BENEFIT/-
1 NCOME SUPPORT
SUPPLEMENTARY WTES -
TECHNICAL AND VOCATIONAL
EDUCATIONAL INITIATIVE
(’WEI) -
‘ TOP UP ‘ MORTGAGE -
2%2s is an arrangement that can be made with a hank to pay
regular bills. The bank can automatically pay the bills
on prearranged dates and deduct the amount (s ) from the
person’s account. 3
Started in AprLl 1987 this nsw benafit gradually replaces
Naternity allcwance and maternity pay frcm smployer. The
new Statutory Maternity Pay will be paid by employer. The
amount paid will depend upon length of service,
wages/salary and hours worked. It is paid for eighteen
weeks.
~ployees raceivs 55P from their employer for the first S
weeks of d ckness in ii tax year. This 18 followed by NI
sickness Benefit paid by DHSS. Frmi April 19S6 SSP will be
paid for 2S waeks followed by Inrnlidity Pension.
The paymnt is subject to wrious conditions includng
length of service.
NB . SSP should not bs confused with payments under a
conpany sick pay echeme.
Usually refers to a block of shares (see shares) .
An amount paid by a Trades Union to i,tB members who are on
official strike. The amount paid =ries tetween unLons
and depends on the circumstances of the strike.
This 18 the basic Social Security bsnefit designed to
prevent anyone having too little to li u on. There are
two kinds of Supplementary Benefit, Supplementary Pension
for people owr retirement age and Supplementary Allowance
for people aged 16 to retirement age. The amount of
benefit that can be receind depends on a means test of
needs and resources. Paymant is made by giro or payment
book . Supplementary Benefit may be paid with other
benefits.
These are additional rates lened by the loca 1
authorities. They are normally levied in the second half
of the financial year. They are normally encountered
during periods of rising inflation.
lVEI is the name givsn to a scheme whereby at 14 years of
a~ children can drop son!a academic ●ubjects and replace
these With wmrk orientated subjects eg information
technology. The idea of tha scheme is to better prepare
children for work.
In cases where a building eociety does not grant a full
requested mortgage to cowm a particular property the
balance msy bs prodded by another organisation eg, an
insurance company. 2’he payments on this type of mortgage
are usually made separately, to the Orgati SatiOn Vantin9
the additional mortgages.
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