Objectives of bill:
- To extend the period of payment of benefits to the contributor from eight to 12 months;
- To extend the period in which a contributor can lay a claim from six months to 12 months;
- To allow beneficiaries to claim if they have credits regardless of when they last submitted a claim;
- To provide for the nomination of beneficiaries in the case of death benefits;
- To assist in financing the employment promotion projects by the public employment services;
- To give powers to the appeals committee to adjudicate on late applications; and
- To give the minister the power to vary the income replacement rate through regulations.
Source: Business Report research