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
Old Age Pension: up to R2,000 monthly for the elderly
Through the Old Age Pension, the government will give you financial support of up to R2,000 every month for free. Read on!
Keep ReadingSouth African Airways: cheap flights and offers
Learn the best resources and tips for finding cheap South African Airways flights online without ever leaving home. Learn more!
Keep ReadingDiscovery Bank Gold Card full review: should you get it?
Discovery Bank Gold Card is the only card that offers up to 40% cashback while you earn miles for every R1 you save. Read on!
Keep ReadingYou may also like
5 credit cards for low credit scores in South Africa
Discover 5 credit cards for low credit scores available in South Africa with excellent reward programs and everything you deserve!
Keep ReadingWhat is a home loan? An introductory guide
Knowing what a home loan is could be the key to your new home. Understand how banks can help you realize this dream!
Keep ReadingAbsa Student Credit Card full review: should you get it?
You need to know the Absa Student Credit Card. Pay no monthly fee and enjoy up to 57 days interest-free on qualifying transactions! Read on!
Keep Reading