The 2020 COID Policy Renewal Deadline Extension
We understand that the outbreak of the COVID-19 virus has led to business interruptions, countrywide. During this period, RMA continues to render assessment and claims processing services in line with our commitment and your expectations. As a result, we are extending our deadline for submissions of Return of Earnings (ROE), from 31 March 2020 to 30 April 2020 to accommodate any business interruptions you may have experienced over this period.
Extending the deadline ensures that your employees continue to enjoy cover against occupational injuries and diseases while on duty.
During this extension:
- We will be extending the expiry date of Letters of Good Standing from 31 March 2020 to 30 April 2020. LOGS will be issued manually (with no certificate number) and sent via email, upon your request.
- Penalties for late submission will not be applied until 01 May 2020.
Simplified process for your online policy renewal
Use our hassle-free online service to process your 2020 policy renewal.
Submit your employees’ earnings (actuals for 2019 and estimates for 2020) before 30 April 2020:
If you have not yet registered on our online portal, you can simply register at www.randmutual.co.za under the Online Services tab and enjoy the convenience.
Declaration of Earnings
To ensure that you remain in good standing, the deadline for submission of earnings is 30 April 2020.
You need to declare your 2019 actual earnings for the period 1 March 2019 – 28 February 2020, and the 2020 estimated earnings for the period 1 March 2020 – 28 February 2021.
Also note that if there is a variance between the current and previous submissions, your account may be audited, and you will be required to provide documents to support the variance. We will contact you if this happens. Your earnings will have to be reviewed and approved and this may delay your invoice(s) and Letter of Good Standing (LOG) for 2020.
Premium Payment
The benefits for paying your premium on time is that you will receive your annual LOGS timeously.
All payments for outstanding premium balances are due 30 days from the invoice date.
Interest will be charged on any overdue accounts in line with section 86(2) of the Compensation for Occupational Injuries and Diseases Act (COIDA), 130 of 1993.
For any payment related enquiries, you may contact us on 0860 222 132 or email collections1@randmutual.co.za
What happens if you miss the 30 April 2020 deadline?
You will be issued with an Invoice that:
- is based on your last submission plus a 5% adjustment for inflation
- has a 10% penalty applied to your assessment rate due to non-compliance with the provisions of the COID Act.
You can still submit your earnings after the 30 April 2020 using the online portal and receive an adjustment invoice based on your budgeted earnings for the 2020 policy year.
For any enquiries, you may contact us on 0860 222 132 or email clientcare@randmutual.co.za.