Retrenchment Solutions
Your partner in compassionate retrenchment
As we all deal with the on-going impact of COVID-19, our number one priority is to stay safe and flatten the curve together.
As a forward-thinking employer, we know you’re doing everything you can to support your workforce
in this time of uncertainty, instability and constant change.
However, with an extended lockdown and a phased approach to lifting restrictions looming, many
employers will face the diffcult reality of dismissal based on operational requirements, in the form of
retrenchment or temporary layoffs.
At Summit, we pride ourselves on equipping responsible employers with the information
they need to make informed decisions and support their workforce in this time of global
instability and constant change.
If your business is considering retrenchment or temporary layoffs, we will provide you with valuable
guidance on your rights and responsibilities as an employer, as well as some alternatives to help reduce
the financial impact on your employees, including:
• The pre-retrenchment process
• Calculating retrenchment payouts
• Temporary layoffs vs retrenchment: the impact on employees
• When and how employees can supplement their income with payouts from the Unemployment
Insurance Fund or UIF C19 TERS benefit
• When and how employees can cover their debt payments with credit life insurance payouts
We understand that retrenchment is a diffcult and stressful process for everyone involved but, with the
right support, we believe employees can be empowered to survive retrenchment and take charge of an
uncertain future.
Summit’s three-tiered Retrenchment Support Programme includes training workshops, individual
face-to-face consultations, and six months’ on-going access to financial wellbeing tools to ensure all
employees receive the level of support they need when they need it.
For more information on UIF Benefits, TERS fund payouts or Summit’s Retrenchment Support
services, please email help@summitfin.co.za or visit www.summitfin.co.za
Retrenchment Solutions
Your partner in compassionate retrenchment
www.summitfin.co.za
