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I'm not aware of there being a way to do this in advance of it happening, unless your employers will co-operate and let you know if there will be enough to cover the payment.
I'm fairly sure that the expectation is that we would be invoicing retrospectively, on the back of the information in the co-investment reports.
That's ok unless it comes in at R14, at which point it's too late.
But I was thinking about this again yesterday - surely the completion payment only triggers if the co-investment is up-to-date at that point anyway. It feels a bit chicken and egg. Co-investment wouldn't be required for the completion payment until it was generated, but it won't generate without it (!!)
You are expected to chase this payment, but it doesn't cause an automatic withhold of the completion element if the shortfall was only part of the completion element (if any part was for on-programme, it will stop the completion payment). It couldn't, because the shortfall only happens when you've earnt the funding, so it's a circular thing. If audited, and you'd made no effort to get this co-investment from the employer, I suspect they'd be able to manually claw back.
Stephen Beckingham
Levy employers out of funds
Created
Hi, I'm aware that when levy employers run out of funds we are expected to collect 5% co-investment from them for the relevant months. But what if this only happens in the final month when the completion payment is triggered, especially when achievement is only confirmed in R14?
Or even if they've run out previously, we've invoiced them for the relevant on-programme months, and we're nicely up-to-date. But then how do we know whether they will have sufficient funds when the achievement payment is due?
Any best practice here?
Thanks