SA Post Office

There is finally some progress on the SA Post Office retrenchment process. Image: File

SA Post Office settles first round of severance packages

Business Rescue Practitioners for the SA Post Office have made early severance package payments for the retrenched. Here’s more …

SA Post Office

There is finally some progress on the SA Post Office retrenchment process. Image: File

SA Post Office Business Rescue Practitioners (BRPs), Mr. Anoosh Rooplal and Mr. Juanito Damons have settled the first round of severance packages to retrenched employees. In a release by the government-run postal entity, the retrenched’s UIF Insurance is fully paid up and ex-employees can now apply for employee benefits from the UIF.

Moreover, the SA Post Office BRPs have completed all necessary administration requirements for tax directives from the South African Revenue Service (SARS), where applicable. The Sowetan reported back in May 2024 that upwards of 6 000 postal staff would receive retrenchment letters.

SA POST OFFICE RETRENCHMENTS

SA Post Office
The once-great institution is wrapping up its first round of retrenchments. Image: File

To that end, says the SA Post Office press release, the BRPs are pleased with their progress. They will begin to make early payments of the first tranche of retrenchment packages today (Friday 7 June 2024). This is sooner than previously agreed upon with organised labour and the Employee Committee.

“All retrenched staff will therefore see the first tranche of their severance packages reflect in their bank accounts from next week”, noted Anoosh Rooplal. All payments after business rescue have been made to the UIF, which is fully paid up. Ex-employees should therefore liaise directly with the UIF offices to receive their unemployment benefits.

SARS FULLY PAID

SARS
SARS has received its first 12c/R1 dividend. Image: File

“SARS has also been paid their first dividend of 12c to the Rand, amounting to some R70 million in total,” added Rooplal. Moreover, ex-employees are requested to continue to liaise with the Post Office Retirement Fund (PORF) in connection with queries and pension payments. The PORF is a separate legal entity and does not operate under the auspices of the SA Post Office BRPs.

Furthermore, tranche 2 and 3 payments of severance packages will be made in September 2024 and November 2024, respectively. This is as agreed with the Employee Committee and organised labour and was previously communicated to employees. “The BRPs continue to monitor cash flow and protect current revenue streams in terms of the original SA Post Office Business Rescue Plan,” concluded Rooplal.

HAVE YOUR SAY

SA Post Office
Time to have your say about the SA Post Office … Image: Duncan P Walker.

Are you part of the first round of SA Post Office severance packages? Do you have any questions regarding pension and retirement funds? Be sure to share your thoughts with our audience in the comments section below. And don’t forget to follow us @TheSANews on X and The South African on Facebook for the latest updates. Click the links below to check out trending stories in the last 24 hours on our website …