UIF may have to sell bond investments if it can’t cope with claims
Lockdown and ratings downgrades have reduced the assets of the Unemployment Insurance Fund, which holds R71bn in government bonds
03 May 2020 - 16:30
The Unemployment Insurance Fund (UIF), which is playing a central role in the government’s bid to financially support workers and the unemployed, may have to sell some of its bond investments if it runs out of funds.
There have been concerns over the ability of the fund to meet the growing demand for benefits amid escalating retrenchments as the Covid-19 lockdown persists.
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