Minister of Finance Enoch Godongwana confirmed that the monetary value of the Social Relief of Distress (SRD) will not increase. This comes after all the other grants distributed by the South African Social Security Agency (Sassa) are set to increase to keep pace with inflation and improve access for eligible recipients except for the unemployment grant.
The minister made this revelation during the 2024 National Budget Speech. The budget speech was delivered on Wednesday at the City Hall in Cape Town.
The SRD grant has received a budgetary allocation of R33.6 billion for 2024/25, with provisional allocations for 2025/26 and 2026/27. This means that should the government see fit, the implementation of the grant would be extended until March 2027.
Godongwana said efforts are underway to enhance the SRD Grant by April this year. Whether this will mean the value of the grant will increase is yet to be seen.
During the 2024 State of The Nation Address (SONA) speech, President Cyril Ramaphosa announced the extension and improvement of the SRD grant. He highlighted its crucial role in assisting the unemployed who faced challenges in seeking employment during the pandemic and related lockdowns.
Godongwana said National Treasury will collaborate with the Department of Social Development to ensure that these improvements are captured in the final regulations. These enhancements will be made within the current fiscal framework.
The minister revealed the finalisation of social security policy reforms, along with identifying funding sources is underway for the extension of the grant beyond March 2025.
National Treasury expects the number of social grant beneficiaries, excluding those receiving the SRD Grant, to increase from 18.8 million in 2023/24 to 19.7 million in 2026/27.
