Tag - retrenchment

Retrenchment insurance

When Chantal Ogle returned to work after the December holiday and was told that the IT company she works for was no longer considered part of the holding company’s “core business”, she was taken by surprise. However, she soon realised that she would be able to use this opportunity to set herself up as an entrepreneur. She contacted her financial...

Retrenchment benefits increase

Those facing retrenchment or retirement can look forward to better tax breaks from this year, with retrenchment or retirement tax-free payments increasing from R30,000 in a lifetime to R315,000, effective from the 2012 tax year. This is according the Ron Warren, executive chairman of payroll software company NuQ, who says that prior to March 2011...