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PRESENTATION ON THE STRATEGIC PLAN, ANNUAL PERFORMANCE PLAN AND BUDGETS OF THE COMPENSATION FUND

PRESENTATION ON THE STRATEGIC PLAN, ANNUAL PERFORMANCE PLAN AND BUDGETS OF THE COMPENSATION FUND. PRESENTATION PREPARED FOR THE PORTFOLIO COMMITTEE. MANDATE.

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PRESENTATION ON THE STRATEGIC PLAN, ANNUAL PERFORMANCE PLAN AND BUDGETS OF THE COMPENSATION FUND

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  1. PRESENTATION ON THE STRATEGIC PLAN, ANNUAL PERFORMANCE PLAN AND BUDGETS OF THE COMPENSATION FUND PRESENTATION PREPARED FOR THE PORTFOLIO COMMITTEE

  2. MANDATE The Compensation Fund is established in terms of section 15 of the Compensation for Occupational Injuries and Diseases Act as amended. The main objective of the Act is to provide compensation for disablement caused by occupational injuries or diseases sustained or contracted by employees or for death resulting from such injuries or diseases and provide for matters connected therewith.

  3. VISION AND MISSION VISION To be a world class provider of sustainablecompensation for occupational injuries and diseases, rehabilitation and reintegration services MISSION TheMission of the Compensation Fund is to: • Provide efficient, quality, client centric and accessible COID service • Sustain financial viability • Ensure an organisation which takes care of the needs of its staff for effective service delivery

  4. STRATEGIC PLAN OF THE FUND The Strategy of the Fund is comprised of two strategic priorities or objectives:

  5. STRATEGIC PLAN FOCUS GOVERNANCE Over the next three year period, we hope to see a more efficient and responsive Compensation Fund with clear focus. COMPLIANCE CORPORATE SUPPORT

  6. THE APPROVED 2015/16 – 20/20 STRATEGIC PLAN

  7. ANNUAL PERFORMANCE PER STRATEGIC OBJECTIVE: ANNUAL REPORT FOR THE FY 2015/16

  8. OVERALL PERFORMANCE DURING 2015/16Indicators Achieved

  9. OVERALL PERFORMANCE DURING 2015/16Indicators Not Achieved

  10. OVERALL PERFORMANCE DURING 2015/16Indicators Not Achieved

  11. THE 2015/16 ANNUAL REPORT (PERFORMANCE INFORMATION)General Milestones • The Fund has started to see progress on the Action Plan with 74% of the short term targets set for being met. • This year’s annual report provides examples that demonstrate the Compensation Fund improving payment of benefits, particularly creating a social security net for vulnerable workers. For an example, during the year under review, the Fund has paid R2.6 billion on medical claims, R132 million on Compensation benefits and R960 million on monthly pensions. • System improvement is continued wherein there are number of Projects taking place e.g. Cfilling.

  12. 2015/16 FINANCIAL STATEMENTS

  13. 2015/16 FINANCIALS

  14. 2015/16STATEMENT OF COMPARISON OF BUDGET TO ACTUALS

  15. Thank You… 15

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