The SRD Grant is compensated to close to 9 million people today residing in South Africa every month. It’s crucial to note that Here is the only grant specifically intended to assist unemployed Older people living in the country.
It was released back again in 2020 to aid unemployed folks who had minimal to no prospects of acquiring employment because of lockdowns. Though it had been in the beginning intended to support men and women to get a duration of three months, its implementation has become extended on many instances.
The most recent Formal extension of the SRD grant was 2 November 2023 when Finance Minister, Enoch Godongwana declared the extension from the R350 grant which was Earlier established to end in March of 2024. The latest extension ensures that beneficiaries can gather their R350 grant until March 2025.
In the course of the 2024 Budget speech, Godongwana announced that work was underway to improve the COVID-19 Social Relief of Distress Grant by April 2024. The Minister indicated that these enhancements is going to be in just the current fiscal framework.
National Treasury will get more info operate While using the Division of Social Development in order that improvements On this grant are captured in the final Regulations … For that extension of your grant beyond March 2025, the social security policy reforms, together with the funding source, will probably be finalised.
Provisional allocations for 2025/26 and 2026/27 was also presented for that implementation with the SRD grant just after acquiring a budgetary allocation of R33.six billion for 2024/twenty five. Provisional allocations for 2025/26 and 2026/27.
Therefore should The federal government see in good shape, the implementation of your grant would be prolonged until eventually March 2027.
We have now viewed the main advantages of this grant and increase it and strengthen it as the subsequent phase in the direction of earnings support with the unemployed.
Impression on the R350 Grant
Through the 2024 State of your Country Deal with (SONA), President Cyril Ramaphosa praised the impact with the grant arguing that it does not only offer those with what they should survive but also serves being an financial investment in their potential.
From the midst of the pandemic, we introduced the SRD Grant which presently reaches some 9 million unemployed individuals each month.
The president further more disputed that grants and social aid proven a society dependent on government support.
These grants and subsidies do much more than give people what they need to live, they are an investment in the future. Many people tend to dismiss this and say we are establishing a dependent society, we are investing in our people and investing in their future as well.