The Monetary Policy Committee have increased the repo rate with effect from 25 March 2022. This will affect the SARS official interest rate which is applied to employer loans from 1 April 2022
The South African Reserve Bank has announced an increase to the repurchase rate, effective from 19 November 2021. You can read about how this increase will effect the SimplePay system in this blog post.
This new feature reminds you of outstanding employer loans and savings when ending an employee’s service.
