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!

Compensation Fund (COID)
COID: Federal pension for workers. Source: Foster the Money

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.

Compensation Fund (COID)

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.

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

Close up of man filling in medical insurance form
Benefits offered by the Compensation Fund (COID). Source: Adobe Stock

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!

Compensation Fund (COID)

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

content

Apply for the Social Relief of Distress: find out how

Apply to Social Relief of Distress and receive cash or food aid in time of need. Find out how to use this program here!

Keep Reading
content

100% approval: apply for the MG Silver Prepaid Debit Card

Apply to MG Silver Prepaid Debit Card and get access to a cheap debit card with many perks, travel benefits, and much more!

Keep Reading
content

Iemas Purchase Credit Card: check out how to apply!

Apply to Iemas Purchase Credit Card, a card that gives you 3.5% cashback, and regret not having applied for it sooner! Read on and learn how!

Keep Reading

You may also like

content

Mango Airlines: cheap flights and offers

Mango Airlines is your chance to fly cheap flights, paying prices well below average. Understand how you can save on your next trip!

Keep Reading
content

Sanlam Money Saver Credit Card: check out how to apply!

Apply to Sanlam Money Saver Credit Card and get 5% cash back on eligible purchases, 55 days interest rate free, and much more. Learn more!

Keep Reading
content

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 Reading