Your staff are your greatest asset and add value to your organisation. Now it is time to return the favour by ensuring they are well looked after if they are injured.
It is that time of year when Compensation for Occupational Injuries and Diseases (COID) policies are renewed for employers in the Class XIII industries, that is, the iron, steel, artificial limbs, galvanising, garage, metals and related industries. Remaining compliant with Rand Mutual (RMA) is the first step in ensuring staff are cared for if they are injured or contract an occupational disease.
“We encourage businesses falling under RMA to submit their earnings and pay premiums for the 2017 COID policy renewal period timeously to ensure they are in compliance for the year ahead so that their employees are protected,” says Patrick Matshidze, Chief Operating Officer at RMA.
“Since 2015 we have streamlined our processes to make it as simple as possible to complete renewals, including the enhancement of our convenient online portal to assist members. In addition, we are conducting a countrywide roadshow in which we are discussing the 2017 rates and assisting clients with the COID policy renewal process, including the declaration of earnings.
“Once members have received their premium invoices, which will be distributed in batches from 6 February, they should make payment well before 31 March 2017, which is the final deadline for payments in order for their company to receive a Letter of Good Standing on time. It is important to note that payments usually take around three working days to reflect in RMA’s account, and renewed Letters of Good Standing cannot be issued until the payment has cleared in our bank account,” Matshidze adds.
“In addition to premium payment, clients are expected to submit their actual earnings (2016 payroll costs) and estimated earnings for 2017. The declaration of actual earnings is for the period 1 March 2016 – 28 February 2017, and the estimates for 1 March 2017 – 28 February 2018.
“If your company uses a third party agent to manage your COID business, please note that you as the employer are ultimately liable for all compliance matters with RMA. It is also your responsibility to ensure that you have submitted a power of attorney to RMA in order for the agent to submit on your behalf.”
RMA’s policy renewals roadshow engagements for Class XIII employers will be held in various towns and cities during February and March, as follows:
- 6 February, Garden Court Polokwane
- 7 February, Protea Hotel Highveld, Emalahleni
- 8 February, Orion Hotel Promenade, Nelspruit
- 14 February, Garden Court Black Rock, Newcastle
- 15 February, Urban Park Hotel, Durban
- 21 February, Protea Hotel Hunters Rest, Rustenburg
- 1 March, Goldfields Casino, Welkom
- 2 March, Protea Hotel, Bloemfontein
- 6 March, Premier Hotel (ELICC), East London
- 7 March, Protea Marine Hotel, Port Elizabeth
- 8 March, Cape Town, Protea Hotel NorthWharf
- 9 March, Protea Hotel King George, George
- 13 March, Sunnyside Park Hotel, Johannesburg
- 14 March, Roodepoort, Johannesburg, Protea Hotel Roodepoort
To confirm your attendance, please email RMA at RMATraining@randmutual.co.za.
“As RMA, we are there to assist our clients with all injury on duty (IOD) administration and are committed to making our processes as efficient as possible. We thank our members for their ongoing support and wish them all the very best for a safe and productive year ahead,” Matshidze concluded.