15/04/2025
π»ππππππ’π ππππππππππππ πππππππππ
This is an optional benefit designed to provide financial support if youβre retrenched under Section 189 of South Africaβs Labour Relations Act. It offers monthly payouts to help you manage essential expenses while seeking new employment. οΏΌ
πΊπ΄π π΅π΄π°ππππ΄π:
β’ Monthly Payouts: Receive up to 75% of your after-tax income, capped at R30,000 per month.
β’ Benefit Duration: Choose between a 6-month or 12-month payout period. The 12-month option requires additional coverages, such as life cover, impairment, and income protector benefits, and must be combined with Libertyβs Loan Protection Package. οΏΌ οΏΌ
π΄π»πππππππππ’ ππππππππ:
β’ Must be permanently employed and contributing to UIF.
β’ A minimum of two years of continuous permanent employment is required before claiming.
β’ A one-month waiting period applies after retrenchment before benefits commence. οΏΌ οΏΌ οΏΌ
β’ Premium Waiver: During the claim period, Liberty waives the premiums for this benefit, ensuring continuous coverage without additional cost. οΏΌ
The Retrenchment Protector is available as an add-on to Libertyβs Lifestyle Protector or Income Protector plans. To explore this option further, letβs review your portfolio and add this awesome benefit!