SA business wants unspent govt money used for TERS in level 4

The business sector is part of a push to get government to reinstate the Unemployment Insurance Fund’s Covid-19 Temporary Employer/Employee Relief Scheme (TERS), which will this week be discussed at the National Economic Development and Labour Council (Nedlac).

On Tuesday, Employment and Labour Minister Thulas Nxesi said that government, with business representatives and unions, will “thrash out” an income-support plan for workers affected by level 4 lockdown restrictions this week.

Unemployment Insurance Fund (UIF) representatives have been in discussions with actuaries to confirm that there are enough funds to cover a TERS extension, while not threatening the viability of the fund.

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