COIDA and Pension

When can one receive compensation in the form of a pension?

A monthly pension is payable to an employee if he/she sustains permanent disablement of 31% or more. This pension is payable to the employee until his/her date of death. Should the pensioner die as a result of the accident, benefits will be carried over to the late employee’s dependants.

Compensation in terms of COIDA can be paid out by means of lump sum payments, periodical payments or monthly pension payments. From 1 April 2015, the maximum amount of earnings per annum that a person may earn in terms of COIDA is R355 752. The minimum level of pensions that are paid has also been increased to R1500 per month in respect of all existing pensioners, R1245 per month to all spouses and R623 per month to a child. The schedule that determines the manner in which compensation is calculated was also amended by way of the recommended maximum and minimum compensation amounts having been changed and became effective 1 April 2015.One can continue to work after collecting pension from the Compensation Commissioner.