Reduction of Co-investment to 5%

As announced last week in the Chancellor’s Spring statement, the employer contribution for apprenticeships will be reduced to 5% for new starts from 1st April onward. Whilst the move had previously been announced in the Chancellor’s Budget, no implementation date had been set.

In response to this surprise announcement, we have adjusted both our validation and funding calculations, and version 15.20.008.01 of PICS will include these changes.