New R350 Eligibility Criteria 2024: Treasury’s Stringent Measures

Introduction

New R350 Eligibility Criteria 2024 :As of December 21, 2023, Finance Minister Enoch Godongwana has unveiled new eligibility criteria for the Social Relief of Distress Grant (SRD 350) in South Africa. This article aims to enlighten low-medium income households about these changes and the implications they carry.

Importance of R350 Grant

The SRD 350, initiated in 2020 to aid the unemployed during the pandemic, has become a crucial lifeline for millions of South Africans. Administered by the South African Social Security Agency (SASSA), this R350 monthly grant provides financial support to those facing unemployment.

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New R350 Eligibility Criteria Overview

• Grant Name: Social Relief of Distress Grant (SRD 350)
• Provider: South Africa
• Administered By: SASSA
• Amount: R350
• New Criteria: Discussed Below
• Announced By: Finance Minister Enoch Godongwana
• More Information

Treasury’s Additional Criteria

To ensure only deserving applicants receive funding, the National Treasury has introduced two new eligibility criteria. Applicants must not have multiple bank accounts, and individuals with a bank balance exceeding R670 are ineligible. This measure aims to prevent circumvention of restrictions and maintain the grant’s integrity.

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Current R350 Eligibility Criteria

In addition to the new criteria, applicants must meet existing requirements. Eligible individuals are citizens or permanent residents of South Africa aged 18 to 59. Special permit holders and permanent residents also qualify. However, recipients cannot be beneficiaries of the National Student Financial Aid Scheme (NSFAS) or the Unemployment Insurance Fund (UIF).

Application Process and Reapplication

Applying for the SRD grant is possible through the SASSA mobile application or website. Applicants must reapply every three months to maintain eligibility. If an individual’s income exceeds the grant’s threshold, they lose eligibility.

Statistical Insights

Since the implementation of stricter requirements in April, only 5.2 million out of 11.3 million eligible applicants received the grant. In contrast, 10.5 million people benefited from the R350 handouts when eligibility criteria were less stringent.

Final Words

We hope this comprehensive overview clarifies the latest updates on the New R350 Eligibility Criteria. For further details, visit here. Stay informed and make the most of available resources during these challenging times.