SRD Grant Increase Now In Effect


Please share this article

Advertisement


Millions of SRD grant beneficiaries will begin benefitting from an SRD grant increase in April. This comes after years of stakeholders calling for improvements.  


Advertisement i


The Social Relief of Distress (SRD) grant increase has finally come into effect, as announced by Finance Minister Enoch Godongwana on April 1, 2024. This means that SRD grant payments for April will have the increase in place.

Frequently known as the R350 grant due to its value, SRD grant beneficiaries will now receive R370 starting from April 1, 2024. This marks an R20 increase, equivalent to 5.7% of the previous R350 grant.

In his announcement, the Minister referenced the President's commitment in the State of the Nation Address to both continue and enhance the R350 grant. He stated:

I’m pleased to say we have found consensus that in between, subject to the finalisation of the comprehensive social security, we’ll increase the R350 to R370 by the 1st of April this year.

The SRD grant is distributed monthly to approximately nine million individuals in South Africa by the South African Social Security Agency (Sassa).

During the 2024 budget speech, Godongwana disclosed ongoing efforts to improve the COVID-19 Social Relief of Distress Grant by April 2024, ensuring these enhancements operate within the existing fiscal framework.

The President in the State of the Nation Address said that the R350 is going to continue and the R350 will be improved. I’m pleased to say we have found consensus that in between, subject to the finalisation of the comprehensive social security, we’ll increase the R350 to R370 by the 1st of April this year.

Although initially set to expire in March 2025, the Minister hinted at a possible extension until 2027, stating, "For the extension of the grant beyond 2025, We have made the point that it may work, we have to find some revenue source for it."

For the extension of the grant beyond 2025, We have made the point that it may work, we have to find some revenue source for it.

A budgetary allocation of R33.6 billion has been designated for the SRD grant in the 2024 financial year, with provisional allocations also earmarked for the subsequent two fiscal years. This indicates that, if deemed necessary, the grant's implementation could be extended until March 2027.

Sassa disburses SRD grant payments during the final week of each month following the completion of various verification checks to ensure that only eligible individuals receive the grant. According to Sassa, funds typically take 2 to 3 working days to reflect in the recipient's bank account after the payment has been processed.

Suggested Article:

Sassa suspending child support grants

Sassa suspended thousands of child support grants over a ten month period. The agency has revealed why these grant payments were suspended as well as what is expected from beneficiaries to ensure their grant are not suspended. 






Online Shopping Links

Takealot - Temu - Amazon - Shein




Advertisement


WhatsApp Channel

Sponsored Ad

Advertisement

Advertisement

Google News

Post-Matric Options

 

After completing your matric certificate exams, you are faced with a lot of post-matric options that can shape your future paths.

These options range from pursuing higher education at universities or colleges, entering vocational training programs, joining the workforce, or even starting your own business. There are so many choices but we are here to help.

Advertisement


Where to Study


Advertisement m


Other Articles

Feenix is an online crowdfunding platform that helps South African students cover their education costs through donations. Here’s how to create a Feenix crowdfunding profile:


Advertisement


Latest SASSA articles

Sassa revealed that individuals can submit Sassa grant applications online. Here's everything you need to know about Sassa online grant applications. 

Millions of people living in South Africa are unemployed. These people can apply for the R370 grant in June 2024. 


Advertisement


Careers Advice

Everyone is spending so much time online these days - which has lead to Digital Marketing growing into a big business. Working in Digital Marketing promises a long and profitable career but what exactly does a Digital Marketer do? And how do you get into Digital Marketing?


Advertisement i