The SRD Grant is compensated to around 9 million people today residing in South Africa every month. It’s essential to Take note that this is the only grant directly meant to assist unemployed Older people residing in the place.

It was launched back again in 2020 to help unemployed those who had minor to no prospects of finding work as a result of lockdowns. Even though it had been originally intended to assistance persons for your period of a few months, its implementation has become prolonged on several events.

The latest Formal extension of the SRD grant was 2 November 2023 when Finance Minister, Enoch Godongwana introduced the extension with the R350 grant which was previously set to finish in March of 2024. The newest extension means that beneficiaries can acquire their R350 grant till March 2025.

In the course of the 2024 Budget speech, Godongwana announced that work was underway to Increase the COVID-19 Social Relief of Distress Grant by April 2024. The Minister indicated that these improvements will likely be in The existing fiscal framework.

National Treasury will do the job While using the Office of Social Development to make sure that improvements On this grant are captured in the final Regulations … For your extension from the grant past March 2025, the social security plan reforms, along with the funding supply, will probably be finalised.

Provisional allocations for 2025/26 and 2026/27 was also supplied with the implementation in the SRD grant right after receiving a budgetary allocation of R33.six billion for 2024/twenty five. Provisional allocations for 2025/26 and 2026/27.

Because of this ought to The federal government see in good shape, the implementation with the grant will be prolonged until finally March 2027.

We have witnessed the main advantages of this grant and extend it and strengthen it as the next phase towards revenue aid for that unemployed.

Effects on the R350 Grant

Over the 2024 State of The Nation Address (SONA), President Cyril Ramaphosa praised the influence of the grant arguing that it does not only supply people with what they need to survive but additionally serves as an investment decision within their potential.

While in the midst on the pandemic, we more info introduced the SRD Grant which presently reaches check here some nine million unemployed people today every month.

The president further disputed that grants and social assist established a Culture depending on federal government assistance.

These grants and subsidies do much more than give people what they need to live, they are an investment check here 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.