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RAF's finances improve

The Road Accident Fund held a press conference recently at its Centurion head offices to celebrate some of the recent improvement in their finances.  There was much emphasis on a surplus, but the greater effect of the surplus was simply to reduce the deficit. 

In other words, the deficit of the Road Accident Fund had been R17 billion and now that is down to R14 billion.  That of course is still very good news and it is a nice improvement, but it is still a deficit.  One has to wait and see what sort of cost savings will come as a result of the Road Accident Fund no longer using attorneys and there can be no doubt that many matters, which should never go to court in the first place, can be settled more cost-effectively by the claims handlers.  At the current time clients still face lengthy waits before they are paid, because the deficit continues and it is only once the deficit is eliminated entirely that the waiting period of the last few years will no longer exist. 

Posted by Michael de Broglio on Thursday 10-Jun-21 Share on Facebook   Tweet It

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Comments

Danielle  said:
on Monday 14-Jun-21 09:28 AM
Any good news from RAF is very welcoming. We hope they can put the money to good use and start paying our clients what's due to them.

Chante  said:
on Friday 11-Jun-21 09:42 AM
Hopefully the payment process will speed up not only for the attorneys claiming for clients but also for clients awaiting payments. At this stage all we can do is hope

Jessica  said:
on Friday 11-Jun-21 09:28 AM
I am glad to see they have managed to save some money, however their new way is a bit of a worry, how effective will it be? Will it really benefit clients? Because we know it sounds amazing and everything. But when reality hits it doesn't really go well. There is so much to look at like they want to settle matters in 120days, YAY but then what about their own implementing of the AMA guides? Like, will that fall away now due to MMI? or what will happen in that aspect? so many questions.

Megan  said:
on Friday 11-Jun-21 08:59 AM
As South Africans we really have to be extremely complacent, we accept any "good news" we hear from government institution. Nothing can function 100% with the highly ranked individuals we have, honestly.

Helen  said:
on Friday 11-Jun-21 08:08 AM
We have to stay positive, so any news from RAF about their finances and improvement of cash flow are the good news.
Only the time when for us those news will be good, when we will start receiving payments from RAF and pay our clients, clients have been waiting for very long time!

Ziyanda  said:
on Thursday 10-Jun-21 04:49 PM
It is always a good thing when there are some sort of improvements at the RAF...Hopefully the victims will receive their payments...

Roxanne Rautenbach  said:
on Thursday 10-Jun-21 03:00 PM
This is great news, the clients really need this and I'm hoping that they will get paid soon.

fikile  said:
on Thursday 10-Jun-21 11:38 AM
This is good news indeed, but the question is how long will this be good news for? because this is the RAF we are talking about and is not even promising to keep it's own word. They are corrupt and will always be but all we can do is hope that they will keep good news coming. It is sad to think that people still have to wait for their money while they have been waiting

Claudia B  said:
on Thursday 10-Jun-21 10:22 AM
This is very nice to hear from the RAF, they are starting to get the R17 billion down, slowly but surely. Still very sad that the clients have to wait so long for payment from the RAF.

Clare   said:
on Thursday 10-Jun-21 09:08 AM
This is great news from the RAF, I will take it. I hope that they will be paying out soon. clients have waited many months for there money, its time to pay them what is due to them. This can make there lives a little better especially now with the pandemic we are currently going through. As the unemployment rate is just going higher and higher. I am holding thumbs for the RAF and for the clients to get there money that is due.

Patrick Sedutla  said:
on Thursday 10-Jun-21 09:01 AM
Any good news from raf will always be welcomed. Lets hope that the situation will improve even further for good.

Michelle B  said:
on Thursday 10-Jun-21 08:55 AM
Whilst this is good news, and one should be happy that the situation is improving, it is still a situation that could have been avoided all together. Victims are suffering and struggling to live. This is a tragedy in itself.

Kayla  said:
on Thursday 10-Jun-21 08:52 AM
Lets just hope they will be paying out soon. Clients have waited many months and have suffered a great ordeal. The payouts can change many lives.

Bianca Niemann   said:
on Thursday 10-Jun-21 08:52 AM
Good news. But like you say, the waiting period will not be as it should be as long as there is a deficit. Hopefully things will continue to improve

david  said:
on Thursday 10-Jun-21 07:31 AM
absolutely disgraceful, the time that victims are made to wait for their payment.

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Johannesburg based attorney specializing in personal injury matters including Road Accident Fund claims and medical negligence matters. My interests include golf, reading and the internet and the way it is constantly developing. I have a passion for life and a desire for less stress!
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