Individuals and Employees-Financial relief for businesses and individuals

Individuals and Employees

A list of key Covid-19 payment holidays and debt relief funds ...

To combat the impact of the COVID-19 pandemic on UIF contributors, the UIF will assist affected workers through existing benefits including

  • Illness
  • Reduced work time
  • Unemployment, and
  • Temporary Employer / Employee Relief Benefits

In addition to these standard benefits a National Disaster Benefit
and a COVID-19 Temporary Employer / Employee Relief Scheme
(COVID19TERS) have been implemented.

It is vitally important to make sure that your emplyer are aware of the measures and are ACTIVELY making use of them to assist you in getting some sort of income.

Covid-19: Workplace considerations and guidance in the...

Curently some employers, as a direct result from the current Coronavirus (Covid-19) pandemic, is closing  their business for a period and send their employees home. This constitutes a temporary layoff. If your employer I cannot pay his/her employees for this period, then your employer can apply for the ‘National Disaster Benefit’ from the UIF. Read more.

To enable emplyers to pay  staff directly during the Covid-19 pandemic and avoid having to retrench anyone,  employees will receive wage payment through the Temporary Employee Relief Scheme (TERS). Previously referred to as the National Disaster Benefit. In terms of the TERS process, the UIF may fund your employers company if the company are affected by Covid-19 directly, 
Read more Covid 19 Relief Scheme


The Oppneheimer family  SAFTA 

The Oppenheimer family have made R1 Billion available to South African SMES to allow businesses who are suffering from short-term cashflow constraints to continue operations during this time of crisis, whilst retaining your employees.  

The funding will be distributed via the Oppenheimer’s newly created South African Future Trust (SAFT), a public benefit organization, and will be paid out directly to employees .  

employees themselves will not be liable to pay the money back, but the company will be.

Employees do not apply directly for this fund. Employers will apply for the benefit of their employees. Employee recipients will also carry no financial liability, and any payments made by SAFT to the employees will be free and clear of income tax. Pyments will be made directly to the emloyee.

Read More Here

Credit insurance
All credit products must be covered by credit insurance, which will settle outstanding debt if you die or are permanently disabled. Since August 2017, your instalments are also covered for up to 12 months if you become unemployed, or unable to earn an income – not necessarily due to illness. You should be covered even if you are not fired but placed on unpaid leave.
Read more here 

Payment Holidays

Problems repaying debt

Get out of debt 

Coronavirus: Can your boss stop you from working from home?

WORK FROM HOME 
CLICK HERE