Benefits
Compensation Fund (COID): federal pension for workers
Workers who suffer injuries or occupational illnesses are not left to fend for themselves. Receive 75% of your salary! Keep reading and learn!
Advertisement
Workers can count on federal financial aid in case of illness or work disability!
Workers who contract illnesses or suffer injuries on the job need all the help they can get. In such cases, relying on the Compensation Fund (COID) is possible.
Apply for the Compensation Fund (COID)
Find out how to apply for the Compensation Fund (COID) and rely on media and financial help! Ensure up to 75% of your salary if eligible.
This federal financial aid can greatly improve workers’ quality of life in difficulty. So learn more below!
How does the Compensation Fund (COID) work?
The Compensation for Occupational Injuries and Diseases, or simply “Compensation Fund” (COID), is a mandatory insurance program in South Africa.
Thus, it aims to provide financial compensation for workers injured or who become ill due to their work.
The South African Department of Labour administers COID. So, it is financed by mandatory contributions from employers. Program coverage includes:
- Medical expenses;
- Payment of lost wages;
- Other expenses associated with occupational injuries or illnesses.
These programs cover a wide range of injuries and illnesses. The worker will receive financial compensation and other types of support in case of acceptance.
You will be redirected to another website
Benefits offered by the Compensation Fund (COID)
Indeed, COID, more than a federal program, offers security so that workers can perform their duties.
Below, learn about some features that make this program an example for the world!
Coverage for various classes of workers
It’s not just industrial or construction workers who demand COID’s support. Four broad categories of workers can apply for such assistance. Discover them below:
- Permanent employees;
- Housemaids working in a boarding house;
- Workers, trainees, or rural apprentices;
- Workers paid by employment agencies.
Note that virtually all workers can apply for COID.
Pension that generates economic security
The amount issued by the government for each employee depends on the severity of the injury or illness developed.
This amount can be up to 75% of the worker’s salary during the trauma/illness. In some cases, workers may be eligible for lifetime pensions.
Want to apply for the Compensation Fund (COID)?
Indeed, you need to understand well about the application process for requesting this help.
Employees and employers need to cooperate to apply for help from COID. To understand more, see a full review below!
Apply for the Compensation Fund (COID)
Find out how to apply for the Compensation Fund (COID) and rely on media and financial help! Ensure up to 75% of your salary if eligible.
Trending Topics
Discover the world: Buy cheap CemAir flights
Learn how to buy cheap CemAir flights taking advantage of the best opportunities to save money and have the best travel experience!
Keep ReadingNedBank SAA Voyager Gold Credit Card full review: should you get it?
Discover the NedBank SAA Voyager Gold Credit Card, your ticket to free domestic and international air travel. Understand how this is possible:
Keep ReadingCotton On Credit: check out how to apply!
Apply to Cotton On Credit to save hundreds of Rands on all your purchases with 6 months at 0% interest rate!
Keep ReadingYou may also like
Social grants: choose the right benefit for you
The government wants to pay you up to R2,000 so that you can live better! Learn more about social grants and how you can benefit from them!
Keep ReadingBuy cheap Mango Airlines flights: easy step by step
Learn how to buy cheap Mango Airlines flights and say goodbye to the extremely high fees charged by airlines on flights in South Africa!
Keep ReadingOld Khaki Store Card: check out how to apply!
Apply to Old Khaki Store Card and stop losing money! Save up to R600 and enjoy benefits and offers that no other card offers!
Keep Reading