Project Description

Payable to a member who:

  • Who has been terminated involuntarily from employment
  • Payable on a monthly basis at the rate of 33.3% of the salary earned at the time of ceasing employment
  • Paid for a maximum period of six months within twelve months.Unemployment benefit is limited to 18 months in the entire employment circle or carrier
  • If a member continue unemployed for 18 months after expiration of six months, he may apply to DG to convert his contributions into supplementary scheme of his choice
  • Converted amount to supplementary scheme shall be special lump sum minus unemployment benefit accessed.
  • If a members contribution period is less than 18 months and ceased to be employed shall be entitled to 50% of accumulated contributions
  • If a member continue unemployed for 18 months his remaining contributions be transferred to supplementary scheme
  • Converted amount to supplementary scheme shall be special lump sum minus the amount paid
  • Member may continue to contribute to the supplementary scheme as per trust deed or rules of the scheme