Last Updated on September 21, 2023 by ufiling
The amount of money you will receive from the Unemployment Insurance Fund (UIF) in South Africa depends on your salary and how much you have contributed to the fund.
UIF benefits are calculated as follows:
- Your benefits are calculated using a formula that takes into account the amount you have contributed to the UIF over the past four years, up to a maximum of 238 days (or eight months) of benefits.
- Your daily benefit is calculated at a rate of between 38% and 60% of your average salary earned in the previous 12 months before you became unemployed, subject to a maximum of R17,712 per month.
- If you earned less than the threshold of R17,712 per month, your daily benefit will be 38% of your salary, subject to a minimum of R3,500 per month.
- If you earned more than the threshold of R17,712 per month, your daily benefit will be capped at a maximum of R6,638.40 per month.
- The maximum period for which you can receive UIF benefits is 238 days or eight months.
It is important to note that the UIF benefits are subject to change, and the information provided here is accurate as of my knowledge cutoff date of September 2021.