Trying to save the UIF from itself
Robert Legh, who chairs the Business for SA (B4SA) work group on labour, says he’s concerned the Unemployment Insurance Fund (UIF) may not be able to pay the R60bn employee wage support promised by President Cyril Ramaphosa this week because of possible funding and technical constraints.
“UIF funding seems to me to be pretty opaque,” says Legh, who is also the chair of Bowmans, one of SA’s largest corporate law firms. “It shouldn’t be because it’s basically sitting on a pile of money. But what that actual pile of money is, is quite hard to divine.”..