Road Accident Fund Act, 1996 (Act No. 56 of 1996)

Board Notice 685

1 November 2024

GG 51499

Road Accident Fund

The Road Accident Fund hereby, in accordance with section 17(4A)(a) of the Road Accident Fund Act, No. 56 of 1996, adjusts and makes known that the amounts referred to in subsection 17(4)(c) are hereby adjusted to R368 035.00, with effect from 31 October 2024, to counter the effects of CPI inflation.

Note: The CPI index based on the new “basket and weights” was used to calculate this adjustment, effective from 31 October 2024 (with base year December 2021 = 100). The CPI index for May 2008 was 50.43 due to the December 2021 rebasing. The CPI index for August 2024 was 116.0. This adjustment was calculated by multiplying the R 160 000 limit by 116.0/50.43.