Is SRD Grant Increased to R500?
Is SRD Grant Increased To R500? There is a flying rumor online that the SRD grant increased to R500. Is this true? I guess that’s why you’re here! You’ll find the genuine answer; read on!
Is SRD Grant Increased To R500?
In the 2023/2024 budget speech, Finance Minister Enoch Godongwa mentioned a 5% increase in grants to keep up with rising prices.
This increase was seen in April 2023 and October 2023. However, it’s important to know that the R350 Social Relief of Distress (SRD) grant did not go up to R500, contrary to the rumors circulating on social media.
Godongwa shared that most of the grant money (about 70%) goes to old age and child grants, helping about 17.5 million people. The total number of grant beneficiaries was 18.6 million in March 2023 and is expected to reach 19.6 million by March 2026.
The government spends R233 billion on grants yearly, and this will increase to R248.4 billion by 2025/26. An extra R10 billion will be set aside by 2025 to help grant recipients.
The SRD R350 grant didn’t increase to R500. The Department of Social Development did request an increase for the SRD grant to the National Treasury, but this proposal was not regarded due to fiscal constraints.
Beneficiaries need to be aware of this fact and avoid falling prey to misleading information circulating online.
SASSA (South African Social Security Agency) has explicitly dismissed claims of an increment to the R350 grant and cautioned beneficiaries against sharing their grant details with anyone.
The agency has issued warnings about potential fraudsters seeking to exploit misinformation for their gain. Beneficiaries are advised to exercise caution and verify information from official government sources to avoid falling victim to scams.
Related Links:
- SASSA Status Check
- SASSA Reapplication
- New Eligibility Threshold-R624
- SASSA Reconsideration Process
- Is the R350 Grant Increased to R700
FAQs
Has the SRD R350 grant been increased to R500?
No, there has been no increase in the Social Relief of Distress (SRD) grant to R500. The government has committed to a 5% increase in various grants, but the SRD R350 grant remains unchanged.
Why didn’t the SRD R350 grant receive an increase to R500?
The Department of Social Development did request an increase for the SRD grant, but it was not approved due to fiscal constraints. The National Treasury did not consider the proposal for the increase.
How do fiscal constraints stop the increase in the SRD R350 grant?
The key factor preventing the increase in the SRD R350 grant is identified as “fiscal constraint.” This term implies that the government faces financial challenges that hinder the allocation of additional funds to increase the grant amount.
Are there any plans to increase other grants?
Yes, the government has committed to a 5% increase in various grants to keep up with inflation. Old age grants and child grants, constituting about 70% of all government social grant funds, have already seen this increase.
How much additional funding is the government allocating for grants by 2025?
The government plans to allocate over 10 billion more funds for grant payments by 2025 to provide further assistance to all grant recipients. This shows a commitment to supporting vulnerable people through social grants.
Conclusion
While the government has proved its commitment to increasing various grants by 5% to counter inflation, the SRD grant remains at the R350 level. Beneficiaries need to stay informed from trustworthy sources and be cautious of false information to avoid being scammed.
