The SRD Grant is paid out to about nine million individuals residing in South Africa each month. It’s important to note that This is actually the only grant immediately intended to assist unemployed Older people living in the country.

It absolutely was introduced again in 2020 to help unemployed individuals who experienced very little to no prospective customers of finding work because of lockdowns. When it had been initially intended to assist individuals for a period of three months, its implementation has long been extended on numerous occasions.

The latest Formal extension from the SRD grant was 2 November 2023 when Finance Minister, Enoch Godongwana declared the extension in the R350 grant which was Beforehand set to finish in March of 2024. The most recent extension implies that beneficiaries can accumulate their R350 grant until finally March 2025.

During the 2024 Budget speech, Godongwana announced that work was underway to Enhance the COVID-19 Social Relief of Distress Grant by April 2024. The Minister indicated that these advancements will probably be in The existing fiscal framework.

National Treasury will function Together with the Office of Social Development to make sure that enhancements In this particular grant are captured in the final Regulations … For that extension of your grant beyond March 2025, the social security plan reforms, along with the funding resource, might be finalised.

Provisional allocations for 2025/26 and 2026/27 was also supplied for your implementation from the SRD grant following receiving a budgetary allocation of R33.six billion for 2024/25. Provisional allocations for 2025/26 and 2026/27.

Because of this must the government see in good shape, the implementation with the grant will be prolonged until eventually March 2027.

We have observed some great benefits of this grant and lengthen it and improve it as the following move in direction of income assist for the unemployed.

Affect of your R350 Grant

In the course of the 2024 Point out from the Nation Tackle (SONA), President Cyril Ramaphosa praised the effects of the grant arguing that it does not only supply individuals with what they should endure and also serves being an expense within their foreseeable future.

During the midst of your pandemic, we released the SRD Grant which at this time reaches some nine million unemployed men and women every month.

The president further disputed that grants and social support founded a Modern society dependent on authorities support.

These grants and subsidies do much more than give people what they need to live, they are an investment in the future. Many people tend to website dismiss this and say we are establishing a dependent society, we are investing in our people and here investing in their future as well.