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BL Premium reports that the Unemployment Insurance Fund (UIF) has employed external firms to painstakingly verify that the R65.2bn it paid out under the temporary employer/employee relief scheme (Ters) was received by the correct beneficiaries.
Ters was introduced during the Covid-19 pandemic in 2020/21 to help companies in distress and prevent job losses by subsidising employee wages. UIF officials told members of the National Council of Provinces’ select committee on economic development & trade in a briefing on Wednesday that a lot of fraud had been uncovered in the verification process. This resulted in several convictions by the courts. Where Ters funds were paid incorrectly they were being collected. The inability of the UIF to prove the Ters funds were paid to the right companies and beneficiaries resulted in a qualified audit outcome. UIF CFO Fezeka Puzi said she expected that the verification of all beneficiary companies would be finalised in the current financial year. She said the UIF was working with the Special Investigating Unit and the Hawks during this endeavour to track payments, as well as with the Fusion Centre and the Asset Forfeiture Unit. Puzi said more than 700 cases of wrong payments were being investigated and there had been over 20 convictions.
- Read the full original of the report in the above regard by Linda Ensor at BusinessLive (subscriber access only)
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