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Surprisingly, there are many people in the UK who have no real idea how the "contract" which governs their employment actually works. Here's an example:-

"OK Mr. Smith - now that your interview's over - I'm pleased to tell you that you've got the job with Able Scientific as our Senior Technical Officer. Your starting salary is £30,000 a year - and you'll get 5 weeks paid holiday and participate in the annual Bonus scheme. There's also our company Pension Scheme which is explained in the booklet - and of course there's the usual Sick Pay and Health Insurance benefits. Now when can you start?"

"Oh...and before I forget.... we can of course change the Terms of your Employment anytime we want - by giving you notice - and we can change your Pension Benefits whenever we want to as well - but that depends on how we feel about the prevailing investment climate - or on future Government Legislation - or on numerous other factors. But I'm sure that'll be alright won't it...?"

The first bit probably sounds familiar, but we're pretty sure you've never heard anything like the last bit....! Still want the job? Maybe - but perhaps after a few more questions?

This section on "Work Contracts" is not meant to be a comprehensive analysis of every type of employment contract - otherwise it would run to several hundred pages  and be as "boring" as the type of sites you need to avoid. Instead what you will find here are some "key" points to watch for when you sign-up for employment - or self-employment as the case may be - along with some benefits and drawbacks to each type of employment. Just click on a heading to find out more - and learn how an enlightened  employer can help you to achieve your own MoneyTargets.

 

Types of Contract
  • Employee Contracts
  • Project Working
  • Self-Employment
  • Part-Time & Fixed-Term Work
  • Home Working
  • Agency Working
  • Employment Agencies
  • Rolling Contracts
  • Foreign Employment
  • Tax & Social Security

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