Topic 2: Understand the sources of money Flashcards
(48 cards)
How do people become employees?
When people have jobs, they become employees.
What is an employer?
The person or organisation for which they work is called their employer.
What does self-employed mean?
When people work for themselves, this is known as self-employed.
What do self-employed people have to do?
Self-employed people must follow rules set out by the government.
What is full-time work?
Full-time work means working for all the working day and week, all year round except for paid holidays.
What days and hours is full-time work for offices and shops?
- 9am - 5pm
- with one hour off for lunch
- for 5 or 6 days a week
Why do some employers have their employees working shifts?
In some business, they need staff for all of the hours for which they are open, so they have employees working in shifts.
What is a shift?
A shift refers to working hours which have been moved/shifted to hours that are different from 9am to 5pm. Therefore, the working day is instead divided into different periods and each period is said to be one shift.
What do people who work part-time do?
People who work part-time work for part, or some, of the employer’s working day, week or year.
What are some examples of when a part-time worker might work?
- a few hours each day
- a few hours in a working week
- several months in a year
What is an employment contract and what must it state?
An employment contract is a written agreement between the employee and the employer giving details about the job. It must state whether the employee is full-time or part-time.
What does EMA stand for?
Education Maintenance Allowance
What is EMA?
EMA scheme is a weekly payment of between £10 and £30 a week, available to qualifying students over the age of 16 in full-time education in Scotland, Wales and Northern Ireland.
What must students have to qualify?
Students must have 100% attendance to qualify.
What is the EMA benefits in Scotland?
In Scotland, a weekly EMA benefit of £30 is available to students whose household income is less than £20,351 a year (only one dependent child) or £22,403 a year (two or more dependent children).
What is the EMA benefits in Wales?
In Wales, the benefit is available to students from households with an income of less than £20,817 a year.
What is the EMA benefits in Northern Ireland?
In Northern Ireland, it is available to those students whose household income is less than £33,950 a year.
What does JSA stand for?
Jobseeker’s Allowance
What must you be to get JSA?
- available for and actively seeking work
- between 18 and state pension age
- working less than 16 hours a week on average
What do you need to do to get JSA?
- You will need to attend an interview at the job centre.
- An adviser will help you to draw up a “jobseeker’s allowance” - this will set out the steps that you agree to take to find work.
- To keep getting benefit, you will have to attend regular job search reviews which are usually every fortnight.
What will JSA be replaced with in October 2013?
JSA along with many other state benefits will be replaced with a new benefit called Universal Credit.
What is income support?
Income support is a benefit that may be paid if you cannot be available for full-time work and do not have enough money on which to live.
How many hours can you work up to and still get income support?
You can work up to 16 hours a week and still get income support.
What does how much income support you receive depend upon?
whether you are:
- a single (lone) parents
- caring for someone who is sick or elderly
- pregnant or have recently given birth
