Will TERS Be Extended?
Now that President Ramaphosa has extended the National State of Disaster to 31 January 2021, it begs the question, will the Unemployment Insurance Fund be extending the Covid-19 TERS fund as well? Well, here's what we know.
Now that President Ramaphosa has extended the National State of Disaster to 31 January 2021, it begs the question, will the Unemployment Insurance Fund (UIF) be extending the Covid-19 Temporary Employer/Employee Relief Scheme (TERS) as well?
Well, there hasn't been any official announcement on an extension. As far as we know, the scheme is set to come to and end on 31 December 2020.
Ramaphosa said that they want to ensure that the UIF has sufficient funds for increases in unemployment claims which will unfortunately come. Discussions do however continue with social partners concerning support measures being set up for businesses in distress going forward.
September and October applications for the last round of the Covid-19 temporary Employer-Employee Relief Scheme (TERS) are now open.
The Unemployment Insurance Fund (UIF) confirmed the following previously:
On Monday evening 23 November, we will open & begin processing Covid19 TERS applications for the September - October period. Applications close on 31 December 2020.
TERS funding was initially meant to last for 3 months as part of government's temporary plan to help South Africans through the tough financial period brought about by Covid-19. Due to the extension, UIF explains things further by saying, "The receipt of Covid-19 TERS applications for 16 September 2020 to 15 October 2020 will close on 31 December 2020 and no further applications shall be accepted beyond that date".
It's also good to keep in mind that the closing date will not have any effect on the claims for previous periods which are still pending.
The application process is staying the same even though the scheme has been extended. It is important to know that all claims must be lodged through the online portal. If you're looking to apply for TERS, do so by clicking here.
On Tuesday, UIF Acting COO, Dingaan Basimane, accepted a memorandum from unions regarding the TERS benefits as UIF says they are committed to urgently addressing all the concerns.
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