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The old-age pension accounts for the highest amount of government expenditure among all social assistance programmes in South Africa. [20] The old-age pension was established in South Africa as early as the 1920s. [21] However, the old-age pension system had reflected strong racial inequality until the 1990s. [21]
A special case is the three-month Social Relief of Distress Grant, which provides immediate temporary assistance in the form of vouchers, food parcels, or cash. [6] The temporary Covid-19 Social Relief of Distress grant was introduced in May 2020 during the Covid-19 pandemic; [7] in October 2022, Enoch Godongwana, the Minister of Finance ...
Pension systems provide a way of securing long-term savings but also an indirect way to alleviate poverty, which affects many on the continent. A number of African countries including South Africa, Namibia, Mauritius and Lesotho [4] have used non-contributory universal pensions as a foundation for broad social security coverage. Many pensioners ...
The COVID-19 pandemic in South Africa was part of the pandemic of coronavirus disease 2019 caused by the severe acute respiratory syndrome coronavirus 2 ().. On 5 March 2020, Minister of Health Zweli Mkhize had confirmed the spread of the virus to South Africa, with the first known patient being a male citizen who tested positive upon his return from Italy. [4]
The DSD plays a significant role in helping administer the South African non-profit sector. According to the South African Constitution, several rights are safeguarded through its Bill of Rights. Consequently, the DSD has a crucial role to play in administering social services and collaborating with the NPO sector to ensure peoples’ rights. [6]
Cashing out your pension when leaving a job is a significant decision with far-reaching consequences. Whether you’re eligible to cash out your pension will depend on the terms of your plan and ...
Lump sum vs. annuity: 6 factors to consider when making your decision. Everyone’s financial situation is different, so it’s important to consider a few key factors — such as tax implications ...
On 15 March, at 10 pm, President Nana Akufo-Addo banned all public gatherings including conferences, workshops, funerals, festivals, political rallies, church activities and other related events to reduce the spread of COVID-19 at a press briefing on the state of COVID-19. Basic schools, senior high schools and universities, both public and ...