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Nasfund has released a statement that it will make relief payments for those terminated as a result of COVID-19. However, it is important to understand that the “payments” can only be once Parliament has passed the relevant legislation.
Having said the above, here are a few key points to note about these relief payments:
- Only those employees terminated as a result of COVID-19 are eligible
- Voluntary resignation due to the virus is unlikely to be accepted.
- The payment is a one-off payment
- Pending approval by Parliament, Nasfund are accepting applications now
- Eligible members will only be allowed to withdraw part of the savings
- You must be a member
- You must have ceased on or after Monday 23 March 2020
- You must sign a statutory declaration confirming your termination
- You MUST Complete and Satisfy all requirements of the COVID-19 Early Withdrawal Form SF-C19.
- The amount of your entitlement is 20% of your contribution up to a maximum of K10,000.
- The amount of entitlement does not include employer contributio0n and interest
- If you remain unemployed after three months, you will be eligible to receive equivalent of 50% of your last monthly salary
For more information, you should call 7373 3000, 75010063 or email email@example.com
To read Nasfund’s statement click here