Every month, people working for more than 24 hours per month in South Africa are required by law to make contributions to the Unemployment Insurance Fund (UIF). You might be wondering if you can claime UIF with retirement.
The UIF will provide short term financial relief to its contributors should they be terminated from their place of employment or have to take leave from work.
The UIF provides benefits to people who have involuntarily lost their jobs. This is why you cannot claim from the fund should you choose to resign, be suspended or absconded from work. You can also not claim benefits from the UIF if you were terminated for fraudulent activity.
If you retire, you may receive benefits from a retirement fund or annuity. However, you will not receive benefits from the UIF. If you never claimed from the fund, it's either because you did not qualify for benefits or you chose not to apply for benefits when you may have been eligible for the benefits.
Every month you contribute 1% of your monthly remuneration to the UIF. This money is deducted from your salary. Your employer is also required to contribute 1% to the fund.
If you were terminated from your place of employment, or need to take off for the circumstances listed below, click on the benefit for more information.
The UIF offers benefits for the following circumstances