If SA’s economy continues to suffer, crew who lose their jobs might in future like much less to tumble wait on on because the Unemployment Insurance Fund’s (UIF) kitty will get depleted.
UIF commissioner Teboho Maruping stated this on Wednesday, including that Covid-19 Ters payouts had no doubt dented the fund’s coffers within the previous two years.
Since early 2020 the relaxation blueprint, intended to stock up the incomes of workers who lost their jobs due to the pandemic, has paid out about R61bn.
At a media briefing on Wednesday to unpack the priorities of the fund exact via the 2021/2022 financial year, Maruping stated the UIF had recovered hundreds and hundreds fraudulently or mistakenly paid to recipients.
Maruping stated the UIF coffers had dipped from R160bn earlier than Covid-19 to about R120bn now. Requested if he became no longer furious referring to the lift out of the leisurely economy on the fund, he stated: “I’m interesting. If the economy continues no longer to interact up via creating jobs, creating entrepreneurs and companies surviving, it will like an affect on the UIF kitty.
“Finally the UIF will flee out of funds. It’s miles a effort on which we and the executives interact.”