The government's new Christmas Card Protection Fund (CCPF), which aims to compensate workers who lose out when they receive Christmas cards from employers who then go bust, came into force today.
The CCPF is essentially a Spirit of Christmas insurance plan, which all companies must belong to.
Companies will now be able to resort to the CCPF if they do not have enough money to honour the sentiments they sent out in millions of worthless Christmas cards.
This will end the "tragedy" of workers being left with that depressing 'Merry Christmas, You're Fired' feeling, the government has said.
The companies themselves will pay for the CCPF by paying fees for each of their members, thus building a Christmas fund.
Under the CCPF, when a firm collapses members of the scheme still of working age should get at least 90% of the Christmas cards they were due to get, while retired members should get 100% of their Christmas cards.
The CCPF will only protect workers of companies which are wound up after 6 April.
Have you received a cheery Christmas card from some bastard who then stabs you in the back? If so, vote for them in our 'Bag of Mouldy Sprouts' award.
