Page 4 - தேசிய பொருளாதார வளர்ச்சி News Today : Breaking News, Live Updates & Top Stories | Vimarsana
Why cashing in retirement fund due to Covid crunch needs to be managed with care
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Treasury may allow pension withdrawals before retirement under very specific circumstances
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What you said: You should be allowed to access a portion of your pension to help pay off debts
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Felix Dlangamandla
Labour Minister Thulas Nxesi said his department would soon develop and issue a directive for the UIF to assist employees who have been laid off or lost their jobs due to the unrest that rocked South Africa this month.
He said the department would draft a directive to help an estimated 75 000 workers who may not qualify for UIF TERS, but lost their jobs due to the unrest.
Unions say the directive should be introduced with urgency along with clarity on TERS under level 3 lockdown.
After more than a year and a half of bottleneck applications, changing requirements and coming to grips with unwarranted payments and instances of fraud, government has placed the Unemployment Insurance Fund (UIF) front and centre of its response to a whole new crisis.
POLL | Should you be allowed to access a portion of your retirement fund to pay off debts?
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