SRD R350 Grants Now Being Paid For March

SRD R350 Grants Now Being Paid For March. Over 8 million people are set to receive a R350 grant payment in March 2024. Sassa has now commenced with paying SRD grants for this month. The South African Social Security Agency (Sassa) has initiated the disbursement of Social Relief of Distress (SRD) grants for March 2024.

Processing and Payment Schedule

Beneficiaries can expect the processing of grant payments to occur from 25 March 2024 to 29 March 2024. After processing, it typically takes around 2 to 3 working days for the funds to reflect in the recipient’s account.

Payment Method Options

Recipients of the SRD grants have the choice to receive their payments directly into their bank accounts, ensuring immediate access. Alternatively, individuals without personal bank accounts can select the Cash Send payment option, requiring only their ID number and phone number for collection, along with proof of identification.

Retail Collection Points

Retail establishments like Pick n Pay, Checkers, Shoprite, and Boxer play a role in facilitating SRD grant payments for beneficiaries who opt to personally collect their R350 grant.

SRD Grant Increased And Extended

Finance Minister Enoch Godongwana recently announced an increase in the SRD grant from 1 April. The R350 grant will be increased to R370, resulting in a R20 increase which is a 5.7% increase.

During the 2024 Budget Speech, the Finance Minister stated that “work is currently underway to improve the COVID-19 Social Relief of Distress Grant by April this year these improvements will be within the current fiscal framework”.

President Cyril Ramaphosa mentioned in the 2024 State of The Nation Address (SONA) that the grant will be extended. The most recent extension means that beneficiaries can collect their R350 grant until March of 2025.

Budgetary Allocations

The SRD grant has received a budgetary allocation of R33.6 billion for 2024/25, with provisional allocations for 2025/26 and 2026/27. This indicates the potential extension of the grant until March 2027, should the government deem it necessary.

Conclusion

The initiation of R350 grant payments for March 2024 brings relief to over 8 million beneficiaries. With increased amounts and extended timelines, coupled with diverse payment options, the government aims to provide essential support amidst ongoing economic challenges.