The low levels of economic growth have put added pressure on employers to restructure their workforce, leading to widespread retrenchments across sectors.
Losing your job can be disruptive and to help you navigate through the maze of frustration, Money has, with the help of experts, compiled this guide:
UIF: You have a right to claim for unemployment benefits from the Unemployment Insurance Fund (UIF) at your nearest labour department, provided you had been contributing while working.
You must apply for it within six months of losing your job and if you had been contributing for four years or more, you can claim for up to 238 days or until you start working again. Claims of one day for every six days worked apply for shorter contribution periods.
Insurance: The first thing to check is whether you have any cover for retrenchment on your policies. Casey Rousseau, marketing manager for 1st for Women Insurance, says their policies have a retrenchment premium waiver and if you have taken this out as an add-on product it continues to pay for your short-term insurance premiums for up to six months while you are without a job.