The Road Accident Fund (RAF) has urged claimants to manage their settlement payouts responsibly, warning that without proper financial planning, compensation payments can be depleted far sooner than expected.
The appeal comes as South Africa marks National Savings Month, with the RAF encouraging beneficiaries to make informed financial decisions to safeguard their long-term wellbeing.
The fund said no amount of compensation can reverse the devastating impact of a road crash, noting that many claimants are left living with permanent injuries or grieving the loss of loved ones.
According to the RAF, more than R79.33 billion in claims and related obligations was paid to over 310,000 claimants between October 2024 and May 2026.
The organisation cautioned that recipients of settlement payments could also become targets for fraudsters, scammers and organised criminal syndicates looking to exploit their financial circumstances.
The RAF encouraged claimants to remain vigilant, seek trusted financial advice where necessary and avoid making impulsive spending decisions to ensure their compensation provides long-term financial security.