{"id":154925,"date":"2017-02-03T13:19:31","date_gmt":"2017-02-03T11:19:31","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=154925"},"modified":"2017-02-03T13:19:31","modified_gmt":"2017-02-03T11:19:31","slug":"road-accident-fund-freezes-payouts-as-it-runs-out-of-money","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/motoring\/154925\/road-accident-fund-freezes-payouts-as-it-runs-out-of-money\/","title":{"rendered":"Road Accident Fund freezes payouts as it runs out of money"},"content":{"rendered":"<p>The Road Accident Fund (RAF) has contacted numerous claimants\u201a service providers and the caregivers to inform them that the fund&#8217;s\u00a0bank account has officially been attached by the Sheriff of the Court and is now frozen.<\/p>\n<p>The RAF&#8217;s CEO Eugene Watson <a href=\"http:\/\/www.raf.co.za\/2017%20Documents\/Media%20Statement%20-%20Road%20Accident%20Fund%20Payments%20on%20Hold%20-%203%20February%202017%20Final.pdf\" target=\"_blank\"><strong>cited<\/strong> <\/a>steep attorney&#8217;s fees for bleeding the account dry.<\/p>\n<p>\u201cPayments have ground to a halt due to the RAF\u2019s bank account being attached by the Sheriff of the Court\u201a\u201d said Watson in a statement on the RAF&#8217;s website.\u00a0The account currently receives a monthly income of R3 billion through a fuel levy, however this was now no longer enough to make the\u00a030\u201a000+ currently being processed by the RAF.<\/p>\n<p>The attachment\u201a removal and sale of RAF assets was thus \u201can unfortunately common reality\u201d\u201a Watson said.\u00a0A balance of R8.2 billion worth of payments to 5\u201a200 creditors remains queued for payment over and above all that is paid.<\/p>\n<p>This equates to just under\u00a0R1.6 million per creditor.<\/p>\n<p>\u201cWe apologise for any inconvenience caused and every effort is being made to resolve the matter speedily in order for the RAF to resume payments,&#8221; the chief executive said.<\/p>\n<p>The RAF\u00a0provides insurance cover to all drivers of motor vehicles in South Africa in respect of liability incurred or damage caused as a result of a traffic collision.<\/p>\n<p>The claimant is assigned a percentage of responsibility for the accident, and the Road Accident Fund pays the claimant a percentage of a full settlement based on a percentage that was not deemed to be their responsibility.<\/p>\n<hr \/>\n<p><strong>Read:\u00a0<a href=\"https:\/\/businesstech.co.za\/news\/motoring\/154729\/how-the-kuga-fires-affected-ford-sales-in-south-africa\/\" target=\"_blank\">How the Kuga fires affected Ford sales in South Africa<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Road Accident Fund (RAF) has reportedly contacted numerous claimants\u201a service providers and the caregivers in order to inform that the Fund&#8217;s bank account has officially been attached by the Sheriff of the Court and was now frozen.<\/p>\n","protected":false},"author":10,"featured_media":151038,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11119],"tags":[26,9818],"class_list":["post-154925","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-motoring","tag-headline","tag-raf"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/154925","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=154925"}],"version-history":[{"count":11,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/154925\/revisions"}],"predecessor-version":[{"id":154947,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/154925\/revisions\/154947"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/151038"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=154925"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=154925"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=154925"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}