The Unemployment Insurance Fund has posted a R9-billion surplus, exceeding its target by R3-billion, UIF commissioner Boas Seruwe says.
The Unemployment Insurance Fund (UIF) pays beneficiaries about R14-million a day, it has revealed in its 2008 annual report.
Employees of Nationwide have been left financially stranded because of technical issues surrounding the liquidation of the airline, the United Association of South Africa (Usasa) union said on Wednesday. A Uasa divisional manager said the difficulties arose because the Nationwide group consists of four subsidiaries.
At least 40 potential buyers have expressed an interest in Nationwide, the airline’s provisional liquidators, Alta-Tshwane Trust, said on Thursday. In a statement, the trust said the potential buyers had all insisted on full financial and operational information on the company.
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/ 29 November 2007
The Unemployment Insurance Fund (UIF) lost R66-million on fraudulent unemployment claims between April 2005 and March this year, the fund said on Thursday. UIF spokesperson Kgomotso Sebetso said it is considered fraud for people to continue to receive benefits despite having secured a new job.
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/ 26 September 2007
The recently launched pension fund and funeral cover for domestic workers should not be confused with the benefits offered by the Unemployment Insurance Fund (UIF), the Department of Labour said on Wednesday. Spokesperson Kgomotso Sebetso stressed that the pension fund is a private initiative.