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Calculating average salary: the last 6 months’ salary prior to the termination date. The salary is capped at the ceiling amount of R17712 per month.
- Average salary x 12÷365 = daily income (Year 1).
- i.e. R17712 x 12 / 365 = R582.31 per day.
Y1 value is used in the Income Replacement Rate (IRR) formula and the
calculation of daily benefit amount.
- IRR = 29.2+ (7173.92/ (232.92+Y1).
- 29.2+ (7173.92/ (232.92+582.31).
- 29.2+ (7173.92/ (815.23).
- 29.2+(8.8).
- 38%.
Daily benefit Amount (DBA) = Y1 x 38%.
= R582.31 x 38%.
= R221.28 per day (daily benefit amount). Total benefit amount = daily benefit amount x available credit days.
Credit days are accumulated as follows: for every four days that you work as a contributor, you receive one day’s credits subject to a maximum of 365 credit days.
HOW TO CALCULATE UIF ON MARTENITY, ILLNESS, PARENTAL AND ADOPTION
Daily benefit amount (DBA) = 66% of income capped at R17712 per month.
Daily income (DI) is not limited to the ceiling amount.
- For example, R30000 x12/365 = R986.30 per day.
Daily income while on leave (leave income).
- For example, R25000 x12/365 = R821.92 per day.
Top-up = difference between daily income (Y1) and leave income.
- R986.30 – R821.92 = R164.38 (difference).
Note: where difference is less than the daily benefit amount, the difference
is paid.
Where the difference is more than the daily benefit amount, the daily benefit
amount is paid.
HOW TO CALCULATE UIF ON REDUCED WORK TIME
Up to 15 October 2020, the top up for Reduced Work Time was up to benefit
level.
From 16 October 2020 to date, the top-up is the same as in-service (as per Covid-19 directive).
Currently, we are process of changing back to benefit level due to lifting of
Covid-19 regulations.
The Reduced Work Time top-up is a top-up to the benefit amount.
Prior to 16 October 2020.
Daily benefit amount calculation:
- Top-up = difference between Reduced Work Time income (per day) and
the daily benefit amount (DBA).
- DBA= R221,28.
- Reduced Work Time income = R3000 per month = R98,63 per day
- Difference = R122.65.
Note: where difference is less than the daily benefit amount, the difference
is paid.
Where the daily income from continued employment is more than the
benefit amount, the claim will be rejected.
