Every employer is required to register for UIF, an unemployment fund, and if you have, it's essential to be mindful of your UIF balance.
Without notifying your employer or company, you can check your UIF balance at any moment. Using the UIF app or website is the most straightforward way to do this. Alternatively, you can ask any retail location that supports Internet banking to check your balance if you don't have access to a smartphone or the internet.
How To Check Your UIF Payout Online
The only reliable and trustworthy website in South Africa to check your UIF balance, ufiling.co.za status check balance check, your UIF payout balance, etc. is UIF online.
The Unemployment Insurance Fund does not provide an option to check your balance. However, you can check if your employer has registered you for UIF on uFiling. You can then check if it is a third of the salary you were paid before for 6 months
What UIF Benefits Are Paid To You
- The UIF will calculate your average salary for the last six months salaries’ before you claim unemployment benefits. It's important to note that the UIF caps the salary at R17 712.
- The UIF will then calculate your daily remuneration. This is done by multiplying your average salary by 12 (months) and then dividing this amount by 365 (days in one year).
- The value of your daily remuneration is used in the Income Replacement Rate (IRR) formula to determine the percentage of the daily UIF benefits you are entitled to.
- The IRR is the percentage of the employee’s daily income to which they are entitled in the form of benefits. The minimum IRR is 38% and the maximum IRR is 60%. The daily income multiplied by the IRR will provide the daily UIF benefit amount that the UIF will pay you.
The IRR formula is calculated using the IRR = 29.2 (7,173.92 / (239.92 + Daily remuneration).
Additionally, The UIF has also previously stated that it will be enhancing its information and technology systems, by launching a data-free mobile application, a free USSD system and additional platforms which will allow them to improve overall service delivery to stakeholders and clients.
This article was updated on 28 February 2023.