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Retrenchment cover comes embedded when you have an Absa Premier, Prestige or Ultimate Account

• Ultimate Account holders will receive a cash benefit of K8,000
• Prestige Account holders will receive a cash benefit of K15,000
  
• Premier Account holders will receive a cash benefit of K30,000
• Benefits are payable to members only or their legal representatives
• Benefits are payable over a period of six months
• Retrenchment is defined as the termination of the account holder’s full-time, permanent employment contract (or a fixed-term employment, with a minimum term of 2 years) with the employer due to any of the following:
  -Change of business conditions of the employer that results in the loss of full-time permanent employees
  -Introduction of new technology
  -Reorganisation of the employer’s business
  -Company closure