Question:
I am 73 years old. Still very healthy and am still working. When do I stop paying UIF, which I have done from the age of 18 years. Will I be able to claim UIF when I retire next year?
Answer:
Barbara, We are not UIF experts but as far as we know, all full time employees are required to pay UIF. Unfortunately, UIF is an unemployment insurance benefit that only pays out when people lose their job involuntarily (retrenchment, dismissal, illness, pregnancy etc). It does not pay out when you retire. You have to claim your retirement fund at that point.
The information and answers supplied in this section do not constitute advice as defined by the Financial Advisory and Intermediary Services Act, 37 of 2002.
