The Chartered Insurance Institute (CII) will act as a gateway organisation for the UK government’s Kickstart Scheme.
The professional body has received approval from the Department for Work and Pensions (DWP) to arrange job placements for 16 to 24-year-olds on Universal Credit who are at risk of long-term unemployment.
Some 36 insurance and financial advice firms, including Zurich, Aston Lark, Foresight Financial Planning, Willis Owen, will offer job placements to 58 youngsters in the coming weeks.
Once the initial job placements have been filled, the CII will be in contact with its insurance and personal finance members to ask if they are able to accommodate any further job placements.
The government’s Kickstart Scheme provides funding to create job placements, which must be additional roles rather than already existing vacancies, for 16 to 24-year-olds who are on Universal Credit and are at risk of long-term unemployment.
Employers of all sizes can apply for funding which covers:
- 100% of the National Minimum Wage (or the National Living Wage depending on the age of the participant) for 25 hours per week for a total of six months;
- Associated employer National Insurance contributions; and
- Employer minimum automatic enrolment pension contributions.
Employers can spread the start date of the job placements up until the end of December 2021.
Manuel Thompson-Oloko, early careers manager of the CII, said: “We want to assist those who may struggle to find work due to covid-19 access a rewarding career in the insurance and personal finance profession where everyone can help consumers with their money matters.
“We hope these job placements will result in throwing open the doors to long-term careers for individuals who may not have previously considered the insurance and personal finance profession. This is a profession keen to attract fresh and diverse talent.”