COMPENSATION FUND – EXTENSION OF THE DEADLINE DATE FOR ROE SUBMISSIONS

The Compensation Fund notified the PAGSA on the 2nd of June 2023 of the issue of Government Gazette No. 48673 dated 30 May 2023.

There are other details in this Gazette that have been repeated from earlier notices and that have been queried previously by the PAGSA. At the time of writing, we are still waiting for a response from the Fund’s legal advisors.

The following was published in the gazette:

a) A Maximum Earnings on Provisional Assessment is R568 959 for the period 1 March 2023 to 28 February 2024
b) The 2022 ROE Season is extended to 30 June 2023

Points a) and b) in this latest notice are the important ones:
The first point finally clears up the uncertainty regarding the Compensation Fund Earnings Threshold for the 2023 year of assessment (2023/24) and confirms our understanding as published in PAGSA NF 2023-16 COID Earnings Threshold for 2023.

The extension of the ROE Submission deadline date from 31 May to 30 June 2023 in the second point is self-explanatory, and probably results from the recent difficulties with certain aspects of the Fund’s IT systems that seem to have been resolved.