Johannesburg - Labour Minister Mildred Oliphant announced an increase in the Unemployment Insurance Fund (UIF) benefit payments on Monday.
“I am pleased to announce that with effect from today (Monday), October 1, 2012, the UIF benefit payments will be increased,” Oliphant said.
A worker earning R14 872 a month would now qualify for an income replacement rate of 38 percent, or R5 651.36 a month for eight months.
The previous threshold for an income replacement rate of 38 percent was R12 478 a month, with a payment of R4 741.64 a month over eight months.
Oliphant's spokesperson Muzi Mkhwanazi said the increase would not affect employee and employer contributions to the UIF.
“The benefit increases will see our beneficiaries receiving more money in their pockets. Hopefully, the money will be put to good use and will assist them in fighting poverty,” said Oliphant. - Sapa