CRS News Flash 19 MAY 2022 – SOUTH AFRICA – Official Interest Rate

Government Notice No. 89 of 2022 was published in Government Gazette 7773, dated 25 March 2022.

The government notice has adjusted the amounts payable to people on maternity leave, extended sick leave and the death benefit.

·        Regulation 9 (1):

·        Maternity leave benefits shall be equal to 100% of the basic wage of the female employee concerned, up to a maximum amount of NAD15,000 (previously NAD13,000) per month, payable for a maximum of 12 weeks;

·        Regulation 10 (1):

·        Sick leave benefits shall be:

·        Equal to 75% of the basic wage of the employee concerned up to a maximum amount of NAD11,250 (previously NAD9,750) per month for the first period of 12 months of sick leave; and

·        Reduced to 65% of the basic wage up to a maximum amount of NAD9,750 (previously NAD8,450) per month after the abovementioned 12-month period of sick leave.

·        Regulation 11 (1):

·        The death benefit is a single lump sum amount of NAD12,000 (previously NAD8,475).

To view the government notice, follow the link.