UIF allocates R5.3bn for TERS unrest benefit – Nxesi

The Unemployment Insurance Fund (UIF) has set aside R5.3-billion for the new Temporary Employer/Employee Relief Scheme (TERS) benefit to help employees and employers negatively impacted by the civil unrest in KwaZulu-Natal and parts of Gauteng in mid-July, Employment and Labour Minister Thulas Nxesi confirmed on July 28. TERS is designed to assist companies who are temporarily in distress, but with a plan in place to turn the business around within 6 to 12 months.